The cryptocurrency market recently delivered a harsh blow to XRP traders, particularly those who had placed bets on an upward price movement. This unexpected market turbulence resulted in substantial liquidations, signaling a challenging period for the digital asset and raising concerns about its short-term trajectory.
Bullish Bets Wiped Out in Massive Liquidation
XRP traders experienced a significant market event, with approximately $2 million in positions liquidated during a recent 24-hour session. The brunt of these liquidations, an overwhelming $1.62 million, was borne by long positions—traders who had anticipated a price rebound. In stark contrast, short positions, betting on a price decline, saw only $365,680 liquidated. This pronounced imbalance has led to an alarming 342.9% liquidation disparity, disproportionately affecting bullish sentiment and catching many off guard as XRP's trading price continued its descent.
XRP's Struggling Trajectory and Negative Outlook for 2025
Beyond the immediate liquidation event, XRP appears to be navigating a difficult path, with current market indicators suggesting a potential negative close for 2025. The asset has consistently failed to regain its positive mid-year levels, enduring renewed selling pressure throughout Q3 and delivering an underwhelming broader performance. Year-to-date, XRP has shed 11.3% of its value, falling from a yearly high of $3.65 to recent lows near $1.65, effectively eroding all gains achieved during its earlier bullish cycles. Compounding the bearish sentiment, XRP ETFs have also shown a slowdown in activity, recording no inflows in their last trading session, further solidifying the prevailing uncertainty around the asset's near-term recovery prospects.
