🚨 $XRP Crazy Increase! Many Traders Got Liquidated 🔥
In the past week, XRP experienced a very unusual price spike — from around $1.90 to over $3.30 in just a matter of days. This spike caused many traders who opened short positions to get liquidated en masse! 😱
🔍 What Really Happened?
• This sharp increase triggered a total liquidation of over $44 million, with short positions being the most affected (around $29 million).
• This spike brought XRP close to its highest price since 2018.
• Many traders who stubbornly placed short positions when the price broke resistance ended up as victims of a short squeeze.
📊 Market Signals:
• XRP's Open Interest in the futures market surged sharply.
• RSI shows extremely overbought conditions.
• NVT Ratio also rose drastically, indicating that trading volume is starting to become unbalanced with valuation — beware of potential corrections!
🛡️ What Can We Learn?
1. Don't FOMO, Don't Be Stubborn!
If the market is in extreme bullish mode, entering a short position is like fighting a tsunami.
2. Use Leverage Wisely.
Many traders use high leverage without stop loss – the result? They get wiped out by the market.
3. Monitor Sentiment & Indicators.
When RSI & NVT are too high, it's better to wait for a retrace or confirm the new market direction.
