XRP sees 63,500% liquidation imbalance as crypto market loses $400 million
- Bridget Hubbard
- September 27, 2025
- Analytics
- 0 Comments
XRP’s Unusual Liquidation Pattern
XRP experienced an extraordinary liquidation event that caught many traders off guard. The cryptocurrency saw $635,000 worth of long positions wiped out compared to just $1,000 in short liquidations, creating a staggering 63,500% imbalance ratio. What makes this particularly interesting is that XRP’s price only declined by about 1% during this period, trading between $2.82 and $2.84.
The leverage behind those long positions turned what should have been a minor price movement into something much more significant. It appears traders were heavily positioned for upward movement, and when the market didn’t cooperate, the cascade of liquidations began. Short positions barely moved during this period, which suggests the market sentiment was overwhelmingly bullish on XRP specifically.
Across the broader market during that same hour, more than $14 million in positions were liquidated. Ethereum led with nearly $2 million, Bitcoin traders lost over $300,000, and Solana saw close to half a million in liquidations. But none of these showed the same extreme imbalance between long and short positions that XRP displayed.
Market-Wide Liquidation Pressure
The cryptocurrency market faced substantial pressure over a 24-hour period, with total liquidations reaching approximately $400 million. This represents one of the more severe liquidation events we’ve seen in recent weeks. Bitcoin broke through what many considered a crucial support level, falling from above $113,000 to around $111,800, which raised concerns about its short-term stability.
Ethereum bore the brunt of these liquidations with over $178 million wiped out, followed by Bitcoin at $57 million and Solana at $24 million. Other altcoins like Dogecoin and XRP also saw notable forced closures, indicating broader market weakness beyond just the major cryptocurrencies.
The data shows that more than 128,000 traders were affected overall, with long positions suffering disproportionately – $333 million versus $73 million for short positions. This disparity highlights how overly leveraged bullish bets were punished during this downturn. Exchange-level data revealed that Hyperliquid and Bybit accounted for the majority of liquidations, with Hyperliquid alone recording $62.5 million in erased positions. Binance and OKX followed closely, showing that the market stress was distributed across multiple trading platforms.
Dogecoin Whale Activity
While the broader market experienced significant liquidations, Dogecoin whales were actively accumulating. Over a 48-hour period, wallets holding between 100 million and one billion DOGE acquired more than two billion coins, representing approximately $480 million worth of Dogecoin at current prices.
This accumulation occurred as Dogecoin tested key support levels around $0.23-$0.24, which has served as the lower boundary of its rising channel throughout the summer. The timing of this whale activity suggests intentional positioning rather than random accumulation. When a cryptocurrency tests important technical levels and large holders step in to buy, it often indicates confidence in that support holding.
Dogecoin had previously spiked above $0.30 in mid-September before retreating to current levels. The fact that whales are accumulating at what appears to be a critical technical level could signal their expectation of a potential rebound. However, it’s worth noting that whale activity doesn’t always predict price movements accurately, and the broader market conditions still pose challenges.
The simultaneous occurrence of significant liquidations across major cryptocurrencies and substantial whale accumulation in Dogecoin creates an interesting dynamic. It suggests that while leverage was being unwound in many assets, certain market participants saw opportunity in specific cryptocurrencies at current price levels.
