XRP endured an extreme liquidation imbalance as leveraged longs were wiped out while the token barely moved. Data from CoinGlass shows $635,000 in XRP long positions liquidated versus roughly $1,000 in shorts—an eye-popping ratio of 63,500%—after the asset slipped only about 1%, trading between $2.82 and $2.84. The small price move was magnified by heavy leverage, producing a one-sided cascade that erased those long exposures.

The ripple from that event was felt across the market. In the same hour, more than $14 million in crypto positions were liquidated marketwide. Ethereum led intra-hour losses with nearly $2 million liquidated, Bitcoin traders saw over $300,000 wiped, and Solana accounted for close to half a million in forced exits. Unlike XRP’s distorted long/short split, these liquidations were more evenly distributed.

Wider market stress accelerated over 24 hours, with more than $400 million liquidated as a significant Bitcoin support level broke. Bitcoin, which had been trading above $113,000, slid toward $111,800, threatening short-term stability and triggering stop-outs. A liquidation heatmap for the day showed Ethereum as the hardest hit with over $178 million liquidated, followed by Bitcoin at about $57 million and Solana near $24 million. Several altcoins, including Dogecoin and XRP, also experienced forced closures, underscoring broad vulnerability.

The episode highlights persistent risks from concentrated leverage and tight stops in a volatile market environment. Traders and risk managers should note how even modest price moves can translate into outsized liquidations when positioning is one-sided.