A big leverage wipeout hit crypto over the past 24 hours, with the dashboard showing $227.93 million in total liquidations and 79,525 traders forced out. But XRP had a different kind of standout number: a sudden $0 on the short-liquidation line in the middle of all that action.
As you can see on the CoinGlass map, XRP's total liquidations are at $10,090. The full amount comes from longs, while shorts show an exact zero.
That is not to say that nobody shorted XRP. It is just to say that, as far as the snapshot shows, the exchange's liquidation engine did not close any of those shorts forcibly, which is unusual during a session where it is clear that leverage is being pushed off the table across multiple tokens.
There are two business-like ways to read it without turning it into drama. One, XRP shorts may have been light or already reduced, so there simply was not enough leveraged short exposure to produce liquidations.
What if?
But there is another interesting angle to consider: short sellers may have been pressured into closing manually before hitting liquidation levels. This led to losses through normal market buys, fees and slippage.
However, there was no "liquidation" print because liquidation is a forced close, not a voluntary exit.
If you zoom out, you can see how active the washout was elsewhere. There were $99.83 million in liquidations over 12 hours, $7.72 million over 4 hours and $1.44 million over 1 hour. The largest single liquidation was reported as a $4.43 million BTC/USD hit on Hyperliquid.
If the next push in XRP makes shorts choose to exit rather than fight, the price can travel further on less resistance. But if short liquidations start printing again, it signals that bears are reloading and are willing to take the heat.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team
