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XRP plunge to $1.38 triggers long liquidations; 1-hour imbalance tops 10,535 percent

XRP slid to $1.38 as forced liquidations of long positions far exceeded losses on short positions, blockchain outlet U.Today reported. The move began as XRP retreated from an intraday high of $1.4150 during the U.S. Labor Day holiday period, triggering stop-losses and margin liquidations among high-leverage traders. Some exchanges saw outflows, while MEXC and Bybit drew speculative demand, with MEXC volume jumping 118.32 percent.