XRP Long Positions Worth $21.86 Million Liquidated as Token Falls 3.21% in an Hour
Key Facts
TokenPost reported $21.86 million in XRP long liquidations during the hour ended at 4:56 p.m. Eastern Time on November 8, 2026, as the cryptocurrency fell 3.21% from $1.15 to $1.12. The total covered Binance, Bybit and OKX, while short liquidations across the three platforms were $0 during the same period. The simultaneous price decline and long liquidations mean positions betting on a rise in the cryptocurrency were closed as its price fell. But the figure does not represent total XRP liquidations in the cryptocurrency market, as it was limited to the three platforms identified in the report. The observation window ended at 6:56 a.m. Korea time on November 9, the equivalent of 4:56 p.m. Eastern Time the previous day.
The report distinguishes the liquidation volume from the breadth of its coverage: $21.86 million in long positions was recorded, compared with zero for short positions, but those figures apply only to Binance, Bybit and OKX. They should therefore not be read as a comprehensive measure of XRP positions across all trading platforms. The decline from $1.15 to $1.12, which TokenPost described as a 3.21% drop in an hour, occurred during the same window in which the liquidations were recorded. This provides a measure of price movement coinciding with position closures, without the report identifying the cause of the decline or linking it to a specific event. TokenPost ranked XRP fifth by market capitalization in the snapshot included in its report published on November 9, 2026.
In an operational development preceding the liquidation hour, Binance said it would begin reopening withdrawals for listed assets on November 6, 2026, at 04:00 UTC. The company included XRP in a list of assets on the Ethereum network and said access would not be restored for all assets at once. It added that reopening would take place gradually as security and readiness checks were completed. The announcement concerned the availability of withdrawals from the platform and offered no explanation for the liquidations TokenPost recorded two days later. It also provides no evidence that the withdrawal decision moved the price or affected traders' positions during the hour in question.
U.S. employment data provide broader economic context for the period, though the report does not link them to XRP liquidations. The U.S. Bureau of Labor Statistics said nonfarm payrolls increased by 165,000 jobs in October 2026, while the unemployment rate held at 4.1%. The increase exceeded the average monthly gain of 48,000 jobs over the previous twelve months. The bureau revised data for the two prior months, raising its estimate of job gains in August to 186,000 from 133,000, and in September to 60,000 from 29,000. As a result, August and September payrolls combined were 84,000 higher than previously estimated, the bureau said.
By sector, professional and business services added 70,000 jobs in October, healthcare employment rose by 42,000, and transportation and warehousing added 25,000, according to the Bureau of Labor Statistics. These sectors account for details of the overall increase of 165,000 jobs, alongside the unemployment rate holding at 4.1%. EL7's daily closing data put XRP/USD at 1.1132 on November 8 and 1.0989 on November 9. These are closes for two full days, and neither measures the price during the liquidation hour, which ended before the close on November 8. The bureau had set December 4, 2026, at 8:30 a.m. Eastern Time as the scheduled release time for its November Employment Situation report.