XRP shorts double longs: $490M versus $203M
- —Short liquidations of $490.57 million versus $203 million in longs, per Coinglass
- —XRP fell 9% in 24 hours and more than 10% over the week after the 49-50 Senate vote
- —The largest single short bar is about $17.59 million
- —Support at $1.25: a break below would bring long liquidations below $1.20 into focus
Why it matters: The buildup of shorts above $1.30 creates squeeze risk on a return to $1.46-1.50, which could amplify an XRP rebound.
Source: The Crypto Basic