An XRP short squeeze on October 17 led to $1.13 million in derivatives liquidations, with short positions comprising nearly $1.02 million of the total. The price of XRP surged from $2.19 to $2.29 within an hour, spurred by macroeconomic developments that eased U.S.-China trade tensions. CoinGlass data revealed a significant 1,000% imbalance between short and long liquidations. Additionally, Bitcoin and Ethereum derivatives experienced over $39 million in combined liquidations during the same period.
XRP Short Squeeze Wipes Out $1.13M in Liquidations Amid Trade Easing
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