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XRP continues to make headlines on unusual occasions, as this time, the popular<a href="https://u.today/rich-dad-poor-dad-author-kiyosaki-delivers-epic-buy-bitcoin-or-bye-bye-line" rel="noopener noreferrer nofollow">cryptocurrency</a> was at the center of a major market shift that saw a colossal amount of liquidations by buyers of perpetual futures on it.
It is "colossal" not because it exceeded $1 million in 24 hours, as the entire cryptocurrency derivatives market saw more than $122 million in liquidations during that time. It can be called such because this figure was 14.134% higher than the volume of liquidations by traders that are skeptical of the<a href="https://u.today/xrp-price-prediction-for-october-23" rel="noopener noreferrer nofollow">price of XRP</a>. <img src="https://u.today/sites/default/files/inline-images/xrpusd_13.png" data-entity-uuid="3c944597-2e65-4c5e-adb9-df5b025fd4e9" data-entity-type="file" alt="&quot;&quot;" data-caption="Source: <a href=&quot;https://www.coinglass.com/LiquidationData&quot;>CoinGlass</a>">
Thus, according to<a href="https://www.coinglass.com/LiquidationData" rel="noopener noreferrer nofollow">CoinGlass</a>, the volume of bearish liquidations on XRP during the period in question amounted to a ridiculous $7,570. In general, such an abnormal deviation or imbalance, as it can be called, eloquently displays the balance of power on the cryptocurrency market right now.
<h2 dir="ltr" id="why-did-this-happen">Why did this happen?</h2>
It is simple because it is all about the price action of the seventh largest cryptocurrency. Over the past 24 hours, XRP has experienced strong bearish pressure amid a fierce battle in the $0.534 per token range.
As a result, the bulls lost this battle and the price of XRP rolled over 1.7% lower, eliminating all futures buyers along the way. <img src="https://u.today/sites/default/files/inline-images/xrpprice_21.png" data-entity-uuid="a9d2bb58-c03c-4f54-901e-65baf1f33902" data-entity-type="file" alt="&quot;&quot;" data-caption="XRP to USD by <a href=&quot;https://coinmarketcap.com/currencies/xrp/&quot;>CoinMarketCap</a>">
As early as yesterday, U.Today reported that XRP was on the verge of a free fall, and today's events, while not the most biting drawdown, demonstrate this with a visual cascade of red candles on the popular cryptocurrency's price chart.
What's next for<a href="https://u.today/xrp-price-might-be-in-danger-zone-possible-scenarios" rel="noopener noreferrer nofollow">XRP</a> may be more interesting than ever. <a href="https://u.today/xrp-skyrockets-14134-in-24-hours-in-abnormal-liquidation-imbalance" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

XRP Skyrockets 14,134% in 24 Hours in Abnormal Liquidation Imbalance

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