XRP Price Lags Behind Bitcoin Rally Triggering $387 Million in Crypto Liquidations

A sharp and unexpected surge in Bitcoin's price has dominated the cryptocurrency market, leading to significant volatility and substantial liquidations. While Bitcoin spearheaded the upward movement, XRP notably underperformed, failing to match the broader market's gains. This divergence in performance highlights the asset's current weakness relative to major cryptocurrencies. The sudden Bitcoin rally caught many traders off guard, resulting in massive liquidations across leveraged positions. Data from derivatives markets confirms total liquidations exceeding $387 million within a 24-hour window. The majority of these were short positions betting against a price increase, which were swiftly wiped out as Bitcoin's value climbed. Market analysts point to this event as a reminder of the inherent risks in leveraged crypto trading. The rapid price movement underscores how quickly market sentiment can shift, leading to cascading effects on altcoins like XRP. Investors are now closely watching to see if XRP can decouple from Bitcoin's momentum or if it will continue to trail the market leader.