XRP Bears Hit by Massive 51,209% Liquidation Shock

XRP has once again captivated the crypto market, delivering a shocking blow to bearish traders with a staggering 51,209% liquidation imbalance. This rare market event highlights the growing dominance of bulls in Ripple’s ongoing market dynamics.

Data from CoinGlass has confirmed that the cryptocurrency landscape experienced over $337 million in liquidations, yet XRP stood apart with one of the most dramatic figures seen in recent months. Within just a single hour, the asset recorded $415,610 in liquidations—virtually all of it on the short side. In sharp contrast, long holders lost only $812.87. This stark skew brings the total imbalance to a jaw-dropping 51,209%, underscoring how severely short-sellers were caught off guard.

Analysts suggest that the XRP price chart reveals a strong recovery, rebounding from a brief dip below $2.95 to reclaim the $2.98 mark. This upward movement happened with almost no slippage, indicating strong market confidence and tight liquidity depth. Many traders were seemingly betting on a downside breakout that never came to fruition – a classic bear trap scenario.

Such a profile of liquidations indicates that numerous positions were forcefully closed at price points buyers were no longer willing—or able—to defend. As a result, XRP’s sudden upward momentum may have been fueled by a cascading effect of shorts getting wiped out, thereby adding more pressure for the price to move higher in a short period. With the spotlight generally fixed on Bitcoin and Ethereum, Ripple’s stealth move went under the radar—at least initially.

Meanwhile, major figures in the crypto space also made headlines. Michael Saylor, Strategy’s executive chairman and legendary Bitcoin enthusiast, posted a curious one-word message: “Bitcoin Abides.” Dressed in a laid-back robe evoking the style of “The Dude” from The Big Lebowski, Saylor’s photo and message went viral among crypto communities. While cryptic, it was clearly a reflection of Strategy’s continued confidence in BTC.

Strategy’s Bitcoin portfolio now totals 601,550 BTC, equating to approximately $71.3 billion in value. Just since June 1, the firm has acquired over 20,000 additional coins. Their most recent activity included a procurement of another 4,225 BTC on July 14, aligning with Bitcoin’s test of the $120,000 resistance zone.

In other cryptocurrency developments, Charles Hoskinson, the founder of Cardano, issued a strong statement addressing a recent wave of scam-related accusations. An individual named Robin Engraf claimed that a person posing as Gabriel Martin, a supposed employee of Input Output, had falsely extracted funds under the guise of a trading withdrawal. Engraf even stated he had compiled bank documents and chat records for U.S. authorities.

Hoskinson didn’t mince words in his response. He openly called out the fraudulent accusation and labeled it a classic case of a victim falling for an internet scam, only to scapegoat an unrelated, legitimate institution. He criticized the tendency for individuals to chase quick profits without proper due diligence and then look for someone else to blame when things fall apart.

Back in the XRP realm, this brutal shakeout of bearish positions serves as a reminder of the coin’s unpredictability and the growing strength behind its bullish sentiment. With its price bouncing back and liquidity thinning out for shorts, XRP once again reinforces its place as a formidable player in the digital asset arena.

Related: XRP Price: $12M Max Pain for Bears

This extraordinary liquidation imbalance could mark a pivotal chapter for Ripple’s trading landscape amid shifting sentiment and technical momentum. Market observers will now closely watch to see if the current resurgence in XRP will gain lasting traction or trigger another round of volatility.