XRP has suffered a severe liquidation imbalance of 537% as the broader cryptocurrency market lost $285 million. CoinGlass data reveals that long position traders lost $3,220,000 in the last 24 hours as price volatility continued to upturn investors’ projections on the asset.

Long traders hit hard as XRP price fails to sustain recovery

With XRP showing signs of recovery, market participants were betting on a rebound that could see prices climb to the $1.50 level. This positive sentiment led to a huge commitment on the part of investors, who have now been left stunned by the asset’s performance.

XRP fluctuated between a daily peak of $1.32 and a low of $1.28 to upset bullish traders. The coin failed to recover as anticipated, leading to over $3.2 million in liquidations.

As of this writing, XRP exchanges hands at $1.31, which reflects a 0.37% increase in the last 24 hours. This falls short of market participants’ expectations and keeps XRP’s weekly decline to 2.69%. Despite the disappointment, trading volume remains up by 2.47% at $2.06 billion within the same time frame.

The continued engagement from the XRP community might be because of the asset’s historical bullish performance in April. It is likely that traders are remaining optimistic that a breakout in price could occur at any moment. If so, these bulls do not want to be prevented from profiting off of the uptick.

Interestingly, those betting short on XRP were not spared from losses within the period. These short position traders recorded a mild liquidation of $504,790 when compared with longs.

Weak Q1 performance raises concerns for XRP investors

XRP holders need a better performance in price to keep interest in the asset high. This is understandable given that XRP closed Q1, 2026, with the biggest loss since 2018. Notably, XRP plunged by 27.1%, with a price of $1.33.

The current price outlook of the coin shows that it is performing below the poor first-quarter figure. Unless momentum shifts, traders might begin to move their funds to other assets on the crypto market.

As per a recent U.Today report, the technical picture on the monthly chart of XRP against Bitcoin is looking bearish. The figures suggest that the altcoin might risk entering a prolonged period of decline against the leading cryptocurrency.

Analysts project a possible 41% decline when compared against Bitcoin, particularly if the broader market continues to witness downward pressure.