XRP long traders absorbed the overwhelming majority of the token's futures liquidations over the past 24 hours as the broader cryptocurrency market continued to stall, according to data from the analytics platform Coinglass.

Coinglass, which aggregates forced position closures across major crypto exchanges, recorded $9.57 million in XRP liquidations over the past 24 hours. Long positions accounted for $9.27 million of that total, compared with just $299,997 in short liquidations — an imbalance of roughly 3,090%, or about 31 to 1.

In crypto derivatives trading, a liquidation occurs when an exchange forcibly closes a leveraged position because the trader's margin can no longer cover losses. Long liquidations typically cluster during price declines, while short liquidations tend to follow rallies. Because the long/short split shows where leveraged positioning was concentrated when the market moved, heavily skewed readings like this one are used as a gauge of leverage stress in a specific asset.

On a shorter timeframe, XRP liquidations amounted to $853,930, including $681,200 in long positions and $172,780 in shorts.

Friday's Liquidations Followed November 5 Market Selloff

The 24-hour figures came after an even larger round of liquidations on Friday, when $16.7 million in XRP positions were closed, including $16 million in longs. That event followed a massive market collapse on November 5, after the price of Bitcoin (BTC) suddenly reversed its trend.

Price, Derivatives and ETF Flows

XRP is currently trading at $1.16, down 1.81% over the past 24 hours, while its market capitalization has declined 1.75% to $72.7 billion. The token is the native digital asset of the XRP Ledger, a blockchain payments network closely associated with payments company Ripple.

XRP's open interest is up only 1.4% over 24 hours, sitting at $1.37 billion. However, rising open interest does not automatically indicate that new bullish positions are being opened. Trading volume has fallen 44.7%, which suggests limited recovery potential for the day.

In addition, XRP ETFs recorded zero net flows on Friday. Spot XRP exchange-traded funds have been listed in the United States since November 2025, and their daily net-flow figures are widely watched as an indicator of investor demand for the asset through these products.

Key Technical Levels

The current price level is close to the local bottom. The weekly chart hints at a further downtrend, with $1.15 serving as the last support before the path to $1.00 is cleared. Breaking that support could trigger a liquidation cascade — a chain reaction in which forced closures push prices toward further liquidation thresholds, closing still more positions — resulting in almost a million dollars' worth of positions being closed.

The immediate resistance level is at $1.20. According to the report, a move above it would be a clear indicator of an uptrend. With trading volume and ETF flows both subdued in the latest readings, shifts in those activity metrics around the two levels are the near-term data points to track alongside price itself.

Data source: Coinglass. Originally reported by U.Today.