XRP Price Faces New Risk After $40 Million Flash Liquidation

XRP’s latest crash has wiped out nearly $40 million in bullish bets, raising fears that another wave of selling could push the cryptocurrency below $1. Nearly $39 million in leveraged long positions were liquidated on November 8, compared with just $366,000 in short positions, according to CoinGlass . These liquidations happen when traders borrow money to bet on rising prices, and exchanges automatically close their positions as losses mount. The forced selling can accelerate a decline, triggering further liquidations. XRP has now fallen for five consecutive days, losing roughly 14% and trading near $1.09. Why XRP’s Price Chart Signals More Trouble The warning signs appeared in October. XRP repeatedly found buyers around $1.26, but each recovery became weaker.

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