The cryptocurrency market experienced a significant amount of liquidations, resulting in almost $800 million in lost trader positions within the past 24 hours. The majority of these liquidations came from long positions, with approximately 84% of them being affected. Notably, XRP, the third largest cryptocurrency, saw a surge in liquidations in its perpetual futures trading, with $30.75 million worth of long positions and $10.94 million worth of short positions being liquidated. This has led to increased interest in XRP as a trading instrument and reflects its price trends. XRP's price dropped by over 16% but has since recovered by more than 11%. The situation around XRP's price and the overall market is uncertain, but it is clear that traders who fail to manage risk appropriately will continue to face losses.



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