Hacking News
XRP Price Trapped at $1.1799 After $30 Million Cascade Liquidation
XRP's leveraged market experienced a series of brutal flushes, with derivative traders losing over $30 million in five days. This led to a cascade of liquidations across the crypto board, with exchanges reporting a lopsided picture where longs accounted for 95.54% of daily losses. Binance, the most liquid platform, saw $8.06 million in leveraged XRP positions wiped out. The price of XRP dropped 6.41% over the past days, settling at $1.1799 by the weekend. The technical picture for XRP buyers is worrying, with the price below key moving averages and the Relative Strength Indicator showing a bearish divergence.