XRP Shorts Suffer Record Loss as Price Rebound Continues

XRP has seen its price surge above $1.30 in recent days, marking its most impressive rally of the year and making it one of the top gainers in the market.

According to data from Coinglass, a leading market analytics platform, XRP shorts have suffered over $33 million worth of liquidations over the past 24 hours as investors betting on sustained price declines continue to witness losses in the futures market.

The upsurge in XRP's price came later than the rest of the market, but it has made up for lost time, with the asset recording some of the largest gains in the market over the daily and weekly timeframes.

XRP eventually reclaimed the $1.30 price level on August 20 for the first time since early June and has since maintained its rally, hitting a 3-month peak of $1.43 before pulling back to settle at $1.35 as of press time.