Markets· ★★★· bearish·

XRP Rode Leverage to $1.60, Then Lost $610 Million in a Single Session

  • —Over $610 million in XRP longs liquidated on Oct. 11 — a record for the asset
  • —XRP futures open interest peaked at $620 million during the rally
  • —Binance's 30-day average XRP OI hit $511 million, an 8-month high
  • —Binance OI now at $467 million, up 2.48% in 24 hours, funding rates positive
Why it matters: XRP's market remains leverage-heavy: rapid long buildup without spot demand could trigger another liquidation cascade.
#XRP
Source: The Crypto Basic
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