XRP, SOL Nosedive 14% as Crypto Bulls Rack $800M Liquidations

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CoinDesk 1d ago

XRP, SOL Nosedive 14% as Crypto Bulls Rack $800M Liquidations - CoinDesk

Quick Summary:

A cascade of liquidations might suggest a market turning point, where a price reversal could be imminent due to an overreaction in market sentiment.

A liquidation occurs when an exchange forcefully closes a trader's leveraged position due to the trader's inability to meet the margin requirements.

SOL, XRP and dogecoin (DOGE) slid as much as 15%, before slightly recovering in Asian morning hours, with BNB Chain’s bnb holding relatively stronger with a 6% slide.