Nearly $10.1 million worth of XRP futures positions have been liquidated over the last 24 hours, with long liquidations amounting to $9.4 million.
XRP technicals hint at further declines if a key level is not reclaimed.
XRP price drops with broader crypto market
The bearishness was not only exclusive to XRP as crypto prices also dropped across the board. The slump continues as Bitcoin
BTC$95,935failed to reclaim $100,000 after rising as high as $99,500 on Feb. 21.
Key points:
Bitcoin was down 0.7% on the day to trade around $95,900.
EtherETH$2,689has lost more than 3.6% of its value over the last 24 hours to trade just above $2,700.
24-hour performance of top-cap cryptocurrencies: Source: Coin360
Other top-cap cryptocurrencies such as SolanaSOL$159.33, DogecoinDOGE$0.2314and CardanoADA$0.7375lost the most, dropping 7%, 5.5% and 5.2%, respectively.
Related: XRP price will see $3.20 next if key support level is reclaimed — Analyst
This performance in the crypto market is accompanied by massive liquidations in the derivatives market, according to data from CoinGlass.
The crypto futures market witnessed the liquidation of over $234 million worth of leverage positions in the last 24 hours, with $187 million in longs.
