According to U.Today, the latest data from CoinGlass reveals that the past 12 hours have been particularly challenging for traders who were optimistic about XRP. During this period, XRP experienced $2.73 million worth of long liquidations, while short liquidations amounted to $98,740. This resulted in a significant imbalance between bullish and bearish liquidations, with a staggering 2,764% difference in just 12 hours.

The difficulties faced by those betting on XRP's rise are closely linked to the cryptocurrency's market performance. Over the same period, XRP's price dropped by as much as 5.2%. In the last 20 hours, the price has fallen by 8.42%, marking a notably painful event for traders. Despite this, the reasons for such a disparity in liquidations go deeper. Since the beginning of the week, XRP's price had surged by as much as 10.5%, creating a bullish sentiment and prompting traders to open long positions.

As is often the case, the market proved to be more astute, and those who were late to the XRP rally or failed to manage their risk properly faced significant losses, becoming part of the $2.73 million liquidated bulls' group. Whether this is a healthy correction or the end of XRP's mini-rally in anticipation of the SEC v. Ripple ruling remains uncertain. However, one thing is clear: XRP continues to be a focal point and an attractive asset for traders, highlighting the importance of attention in the cryptocurrency market.