XRP Short Squeeze Imminent as Sellers Face $158M Liquidation Risk
XRP's recent price action has led to a significant accumulation of short liquidation leverage among traders, with up to $158.82 million at risk if the price recovers just 3% from its current level.
According to data provided by Coinglass, a leading market analytics platform, XRP sellers have ramped up their cumulative short liquidation leverage from the current price of $1.50 to the $1.553 high on the 7-day timeline.
This indicates that if the XRP price reaches $1.553, traders with short positions could witness cumulative liquidation of nearly $159 million at different price levels up until this area.
Further data shows that exactly at the $1.553 mark, traders on Binance, OKX, and Bybit could face liquidations totaling $6.03 million, $2.37 million, and $8.04 million, respectively.