XRP Short Squeeze Produces 5,999% Liquidation Imbalance Over Four Hours

XRP recorded an extreme liquidation event with short positions accounting for $690,370 in forced closures compared to $11,320 from long positions, creating a 5,999% imbalance. The total liquidation reached $701,690 within a four-hour period as the price moved to $2.45, according to CoinGlass data.