the last four hours, the total liquidations of perpetual futures on XRP reached $2.57 million, ranking as the fourth highest volume in the entire crypto asset derivatives market.
What makes this type of liquidation even more interesting is that just 17.9% of it involved long positions, while the majority stemmed from short position liquidations. Consequently, there was a notable imbalance in XRP during the observed period, with short liquidations surpassing long liquidations by a factor of 4.54, or 454%.
This discrepancy can be attributed to the upward trajectory of XRP's price, which has been steadily rising, along with the persistence of bearish sellers. Their liquidations of short positions are contributing to the steep increase in the token's price.
During this four-hour period, the price of XRP recorded another green candle, rising by 6.34% to hit a peak of $1.15. You can get from picture increase was primarily driven by the forced liquidation of bearish futures positions totaling over $2 million.
that means short trading sadly.. but still plus though 👍😎
