$XRP

$28 Million Worth of XRP Contracts at Risk of Liquidation if Price Reaches $0.60

According to Coinglass, if the price of Ripple (XRP) reaches $0.60, it will wipe out millions of dollars of open contracts. The derivatives information portal notes that this level represents the highest liquidation price for XRP.

Currently, XRP is trading at $0.52, having dropped from $0.60 in early October. In addition to revealing potential liquidation levels, this analysis examines whether the altcoin has the potential to rebound.

Short Ripple Traders Are Exposing Millions to Liquidation

At the time of writing, the liquidation map reveals that XRP price action has prompted several traders to open short contracts worth $28.40 million. The liquidation map helps traders identify potential levels at which large positions may be forced to close due to margin calls.

To clarify, a short contract refers to a market position that expects the value of a cryptocurrency to decrease.