Crypto Market Long Liquidations Hit $607M Amid XRP Selloff

Key Facts

The crypto market saw $607.18 million in liquidations, with long positions accounting for $541.14 million of the total. u.today reported that the selloff primarily impacted XRP traders, resulting in a massive 2,213% liquidation imbalance for bulls as the broader market retreated.

The downturn occurred as investors anticipated fresh economic releases, leading to a flush-out of leveraged positions. Market participants are currently pricing in a high probability that the Federal Reserve will maintain interest rates at its next meeting, following the first rate hike since 2023 implemented during the September session.