XRP Longs Face Heavy Losses Amid Price Stagnation

XRP derivative traders who held leveraged long positions lost more than $30 million over a five-day period, according to CoinGlass data. The losses followed a sudden price reversal that occurred after a brief period of market optimism on November 4, triggering a cascade of forced closures across the crypto market. Liquidation activity reached extreme levels by Friday, running 2.74 times above the weekly average. Exchange data reveals a lopsided distribution of losses, with long positions accounting for 95.54% of all daily losses. Longs recorded $16.01 million in losses out of a total daily loss figure of $16.75 million.

Source: The Currency Analytics