📉 $XRP : longs under pressure, momentum fading

Despite reduced volatility, 85% of XRP liquidations are longs. In the past 24 hours, positions worth $7.76 million were closed, of which $6.57 million were longs, following a pullback from $2.2.

The market quickly shed excessive optimism: in the last 12 hours $XRP dropped another –3.2%, accelerating the liquidation of longs.

$XRP is in a correction phase after an unsuccessful continuation of the rise. Without a return of volume and open interest, it's too early to talk about a sustained uptrend — the market needs a new catalyst.

#xrp #CryptoAnalysis #Liquidations #Derivatives #MarketStructure

XRP

1.5973

-2.19%