XRP traders lost more than $8 million to long liquidations in just 15 minutes as the cryptocurrency market continued to react to the U.S. CPI data.
Notably, the latest losses came on the back of another sudden drop in XRP’s price earlier this morning, which added to the pressure on traders who had bet on a recovery.
XRP Faces Fresh Selling Pressure After CPI Report
XRP has struggled to recover from the market crash that followed the latest U.S. Consumer Price Index (CPI) report. The data showed that inflation in September 2026 came in hotter than expected, triggering a sudden reaction from Bitcoin (BTC) that spread across the crypto market.
While XRP initially fell after the report, bullish traders faced another major setback hours later. At 02:15 UTC on Oct. 15, the market recorded more than $8 million in long liquidations within 15 minutes, according to data from Coinglass.
For context, after the CPI release, XRP fell 1.75% in 30 minutes, dropping from $1.3807 to $1.3566. The decline continued over the next few hours, with the token recording five consecutive red 30-minute candlesticks between 12:30 and 14:30 UTC.
The market later settled into a series of smaller declines and recoveries before another sudden drop hit in the early hours of Oct. 15.
XRP Traders Lose $8.57M in Long Positions
At around 02:00 UTC on Oct. 15, XRP fell another 1.73% in 30 minutes, sliding from $1.3209 to $1.2848. The move triggered a cascade of long liquidations as traders who expected the price to hold or recover lost their positions.
Coinglass data shows that the market liquidated $8.57 million in long XRP positions between 02:00 and 02:15 UTC. By comparison, short liquidations reached only $102,260 during the same period.
The liquidation figure was also much higher than the losses recorded during another XRP decline that morning.
Between 05:00 and 06:00 UTC, XRP dropped 2.13%, falling from $1.3206 to $1.2924. Despite this larger percentage decline, long liquidations during that hour amounted to only about $500,000.
The $8.57 million wiped out accounted for about 62% of the $13.85 million in long liquidations recorded over the previous 24 hours. It also represented 86.4% of the $9.92 million recorded over the previous 12 hours. This shows that most of the recent losses among bullish XRP traders came during that brief period.
Short Positions Overtake Longs as Bearish Bets Grow
Meanwhile, recent market data shows that traders betting on further XRP declines now hold a larger share of futures volume than those expecting a recovery. Over the past 24 hours, long volume reached $1.64 billion, while short volume climbed to $1.81 billion.
Essentially, short positions account for 52.47% of the total futures leverage recorded in the last 24 hours. This gives bearish traders a slight lead as XRP continues to struggle following the latest market sell-off.
However, the growing number of short positions could also create problems for sellers if XRP rebounds. A sudden price increase could force traders who bet against the token to close their positions through liquidations, potentially adding further buying pressure to the market.
XRP Must Reclaim $1.32 Resistance to Recover
For XRP to show signs of recovery, it first needs to move back above the resistance zone between $1.3201 and $1.3238. During the initial crash following the CPI report, this range acted as support and helped absorb much of the selling pressure.
However, XRP fell below the zone earlier on Oct. 15, triggering the $8.57 million in long liquidations within 15 minutes. Traders who expected the support to hold suffered losses when the price broke below it.
Since then, XRP has struggled to reclaim the range, which has now shifted from support to resistance. A clear move above $1.3201-$1.3238 would provide the first sign that the token could recover some of its recent losses.