The cryptocurrency market experienced significant liquidations, totaling nearly $50 million in one hour. Surprisingly, almost 95% of this volume came from long positions in the derivatives segment of the market. XRP stood out with a crazy imbalance, where long liquidations exceeded short liquidations by over 125,000%. While XRP's price only dropped 1.6%, the number of bullish liquidations reached almost $1 million. This imbalance suggests that the number of people going long on XRP futures was overwhelming. It remains to be seen what the future holds, but it is expected that the enthusiasm for going long on XRP will decrease for now.



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