XRP experienced a significant 3,254% liquidation imbalance favoring bearish traders shortly after the launch of the first spot XRP ETF. According to Coinglass data, $9.09 million in long positions were liquidated, compared to only $271,060 in short positions within four hours of the ETF's debut. This substantial liquidation imbalance has resulted in a sharp price correction for XRP, with the cryptocurrency retesting the $2.3 level. The unexpected market movement has dashed bullish expectations, highlighting the volatility surrounding the new ETF launch.