Immy Dorse 
Well, that didn’t take long. After what felt like a pretty rough start to the day, XRP just flipped the script entirely. In a matter of minutes, the price shot up, catching a whole lot of people off guard. I mean, it was trading down around $2.80 earlier. Then, boom.
The data coming in from Coinglass shows a pretty wild scene in the last hour or so. It seems this sudden jump triggered a cascade of automatic sell-offs, what they call liquidations. But it wasn’t spread evenly. Not even close.
A One-Sided Squeeze
The numbers are pretty stark. Over the last hour, more than $5 million in XRP positions got liquidated. The crazy part? The vast majority of that pain landed on one group: the short sellers.
Traders betting on the price going up—the longs—only saw about $595,000 wiped out. But the shorts, those betting on a decline, got hit for a massive $4.44 million. That’s a huge imbalance. It suggests that a lot of people were positioned for a fall, and this sudden surge just wrecked those plans.
Breaking Through a Ceiling
This all happened because the sentiment around XRP did a complete 180. The price didn’t just nudge up; it surged, pushing past a level that’s been tough to crack lately: $3. It’s a psychological barrier, I suppose. Breaking through it seems to have sparked something.
Just a few hours ago, the mood was pretty bearish. The token had dipped down near $2.80. This turnaround, as abrupt as it was, has probably restored a bit of hope for those waiting for a bigger move. That talk of a $5 target doesn’t seem so silly now.
Where Does This Leave the Market?
So now, despite a rocky morning, XRP is sitting on a daily gain of over 5%. It traded in a wide range today, from a low around $2.80 to briefly touching $3.05. That’s a lot of movement.
This kind of volatile action forces traders to make quick decisions. This liquidation event, as brutal as it was for some, might be a signal. It could mean the market is still searching for a higher level, causing people to scramble and adjust their bets to avoid getting caught on the wrong side again.
And it’s not just XRP. Bitcoin and Ethereum are also green today after a string of down days. Maybe this is the start of a broader shift. It’s hard to say for sure—these things can reverse just as quickly. But for now, the bulls are definitely back in control. They’ll be looking to see if this momentum has any staying power.