Bearish sentiment in the broader crypto market ignites liquidations
- XRP price retreats over 3% amid a market-wide correction led by Bitcoin.
- The drop in the derivatives market’s Open Interest to $3.84 billion signals waning confidence in XRP’s uptrend
- In the last 24 hours, long position liquidations have exceeded $10 million, compared to almost $3 million in short positions.
Ripple (XRP) price is reversing gains at the time of writing on Thursday, following a widespread recovery in the cryptocurrency market on Wednesday. XRP surged alongside Bitcoin (BTC), hitting a daily high of $2.30 on Wednesday, as investors positively reacted to United States (US) President Donald Trump’s more conciliatory stance on Federal Reserve (Fed) Chair Jerome Powell and China. The US is optimistic…
