4% XRP Dip Could Trigger $60 Million Bull Bloodbath

A critical zone for XRP traders Major liquidations on Bybit, Binance, and OKX XRP, the cryptocurrency tied to Ripple Labs, is currently trading at $2.12, according to CoinMarketCap data. While the token has recorded an 11.36% gain over the last 30 days, this upward momentum could be setting the stage for sharp volatility. Fresh data from Coinglass reveals that over $60 million in long positions could be wiped out if XRP drops by just 4%, reaching $2.063. In leveraged trading, long positions represent bullish bets that a cryptocurrency’s price will continue rising. If the price moves too far in the opposite direction, the platform automatically liquidates these positions to prevent further losses, a process known as forced liquidation. The XRP liquidation map shows a high density of long positions between $1.90 and $2.10, marking it as a critical zone for traders. If XRP breaches $2.063, it could spark a cascade of liquidations totaling nearly $64.24 million, making it one of the most significant XRP liquidation events in recent months. A critical zone for XRP traders This represents a drop of 4% from XRP’s current price. This region of possible liquidation is a critical price zone as large liquidations at this level could further push down prices, even if it is for a brief period. Hence, traders and analysts often monitor these levels closely. In crypto circles, this type of event is called “stop hunt” or “liquidity sweep,” where the price drops to a level that triggers these liquidations before rallying again. You Might Also Like Should the Ripple-linked cryptocurrency breach the $2.063 price, it would result in one of the largest XRP liquidation events in recent months. Major liquidations on Bybit, Binance, and OKX Meanwhile, the Coinglass data also showed the platforms that would be most affected should this liquidation happen. Bybit would be affected the most as more than $7 million worth of long positions would be liquidated on the platform when XRP’s price drops to $2.063. Binance and OKX follow Bybit with $3.39 million and $1.30 million in expected liquidations from long positions, respectively. Hence, analysts suggest that those holding long positions should start reducing their leverage or set up stop-losses to protect their positions against the potential drop. According to an earlier report by U.Today, bulls are returning to the XRP market after a few days of drops. Source: https://u.today/4-xrp-dip-could-trigger-60-million-bull-bloodbath