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Don't go against the trend! The "Nightmare of Shorts" for XRP
Investors who went to bed early are fortunate, having avoided a "wealth catastrophe." Those who firmly shorted XRP are likely curled up in a corner silently crying, their fingers too numb to type on the keyboard.
XRP turned into a "crazy box" overnight, skyrocketing from $1.88 to $2.49, a nearly 30% increase, delivering a "critical blow" to the shorts. They thought, "What goes up must come down," but woke up to find themselves liquidated, their account funds evaporated.
When leverage is amplified, losses can be terrifying. Some opened 10x leverage shorts, and a 32.5% price increase instantly turned into a massive 325% loss. Taking a $10,000 short position could quickly result in owing the exchange $22,500, not including fees, leaving them unable to even afford the ground.
Institutions didn’t escape either; although $158M flowed in, they hurriedly withdrew $26M within 8 hours. Retail investors fared worse, suffering a loss of $21.58M, undoubtedly leaving their social circles filled with "heartfelt reflections."
Why did they take such a big tumble? First, overconfidence led them to underestimate the market's unpredictability, especially since XRP often has news that stirs things up; second, the misuse of leverage, where profits can be outrageous during wins but deadly during losses; third, ignoring positive news, waiting for Ripple's good news to ignite market sentiment, leaving shorts only to lament the prices.
Shorts need to remember: do not blindly bet on price fluctuations, it’s no different than playing with fire; use leverage cautiously, as dreams of wealth can shatter easily; pay attention to market news, especially with coins like XRP that frequently have positive developments; think twice before taking action. This "XRP Short Disaster" serves as a wake-up call for all investors: do not go against the trend, when the market goes crazy, it can’t be stopped! #XRP市值重回第三 #XRP解锁新趋势 #山寨季來了？ #puppies币 $BTC $ETH $XRP
Investors who went to bed early are fortunate, having avoided a "wealth catastrophe." Those who firmly shorted XRP are likely curled up in a corner silently crying, their fingers too numb to type on the keyboard.
XRP turned into a "crazy box" overnight, skyrocketing from $1.88 to $2.49, a nearly 30% increase, delivering a "critical blow" to the shorts. They thought, "What goes up must come down," but woke up to find themselves liquidated, their account funds evaporated.
When leverage is amplified, losses can be terrifying. Some opened 10x leverage shorts, and a 32.5% price increase instantly turned into a massive 325% loss. Taking a $10,000 short position could quickly result in owing the exchange $22,500, not including fees, leaving them unable to even afford the ground.
Institutions didn’t escape either; although $158M flowed in, they hurriedly withdrew $26M within 8 hours. Retail investors fared worse, suffering a loss of $21.58M, undoubtedly leaving their social circles filled with "heartfelt reflections."
Why did they take such a big tumble? First, overconfidence led them to underestimate the market's unpredictability, especially since XRP often has news that stirs things up; second, the misuse of leverage, where profits can be outrageous during wins but deadly during losses; third, ignoring positive news, waiting for Ripple's good news to ignite market sentiment, leaving shorts only to lament the prices.
Shorts need to remember: do not blindly bet on price fluctuations, it’s no different than playing with fire; use leverage cautiously, as dreams of wealth can shatter easily; pay attention to market news, especially with coins like XRP that frequently have positive developments; think twice before taking action. This "XRP Short Disaster" serves as a wake-up call for all investors: do not go against the trend, when the market goes crazy, it can’t be stopped! #XRP市值重回第三 #XRP解锁新趋势 #山寨季來了？ #puppies币 $BTC $ETH $XRP
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