3 altcoins facing significant liquidations in the coming week
1.XRP
XRP has been losing value for two consecutive weeks, dropping more than 18% from $3.65 to $2.97. Many short-term traders believe that the downward trend will continue. However, if XRP recovers and rises to $3.20, over $400 million in short positions could be liquidated.
2.TRUMP
The liquidation map for the meme coin TRUMP shows a significant imbalance. After a vertical collapse, the token has been consistently consolidating around $8.50 for over a month, which is a key support level. If TRUMP rises to $9.80 this week, about $50 million in short positions could be liquidated.
3.CFX
Conflux (CFX) surprised many investors last month, rising almost fourfold. The market capitalization of the coin exceeded $1 billion. The liquidation map shows that most traders expect a correction for CFX at the beginning of August. This is evident from the large volume of potential short position liquidations, which significantly exceed long position liquidations. If CFX continues to rise and reaches $0.243, about $25 million in short positions could be liquidated.#BinanceSquareFamily #ProjectCrypto $XRP