By Jove, what a to-do we have here! It appears that old XRP has been up to its usual tricks, serving a spot of bother to the short-sellers with a liquidation imbalance so absurd, it could only be described as a financial farce. A staggering 1,407% imbalance, you say? Dash it all, that’s enough to make even the most stoic of brokers spill his tea!
According to the chaps at CoinGlass, short positions were hit harder than a butler’s dignity on a slippery staircase. A cool $715,610 in shorts liquidated versus a mere $50,830 in longs over a four-hour window. Good heavens, that’s the sort of imbalance one expects at a Bertie Wooster dinner party, not in the crypto markets!
And let’s not forget the lead-up to this drama. Poor XRP had been through the wringer in late 2025, tumbling from above $3 down to $1.53 before a modest recovery to $1.63. But that little bounce, my dear reader, was just the ticket to trigger a forced closure for those overleveraged short-sellers. Betting on a steeper flush below $1.50? What a bounder!
Even over a 24-hour period, the numbers were quite the spectacle: $4 million in shorts liquidated versus $6.76 million in longs. A rare pattern reversal, indeed, after a weekend of bearish dominance. But that four-hour print? My hat’s off to it-either an isolated whale trap or an algo-induced short squeeze. One can’t help but wonder if some jolly algorithm had a spot of indigestion.
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What ho! What about the XRP price?
Well, old XRP is up 2.9% today, but let’s not crack open the champagne just yet. The overall trend is still as bearish as a wet weekend in Blandings. XRP remains below its December low and is miles away from key resistance levels at $1.89 or $2. If this squeeze was merely mechanical and not fundamental, there’s plenty of downside risk still lurking in the undergrowth.
The technical setup? Not exactly a balm for the nerves. XRP has clung to a local support level like a limpet to a rock, but the next target appears to be around $1.45. Higher time frame charts still paint a bearish picture-enough to make even the most optimistic chap reach for his stiffest drink.
So, the question remains: was this imbalance a reversal signal or merely a liquidation echo? History, my dear reader, suggests that short-side wipes are about as reliable as a Gussie Fink-Nottle at a fancy dress party-temporary relief at best, and rarely the harbinger of a full cycle bottom.
If XRP doesn’t bounce back above $1.80-$2 soon, it might just be a sign that the market is overreacting like Aunt Agatha at a minor social indiscretion. For now, this 1,407% liquidation gap is but a one-time affair. But if the bulls can’t build on it, it’ll go down as a short-term, costly misstep by those who are too pessimistic-or, as Jeeves would say, “a bit of a howler.”
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2026-02-02 19:44