I just reviewed the liquidation data and XRP has been heavily punished over the past 24 hours. While the crypto market lost around 285 million in total liquidations, holders with long positions in XRP were the most affected, losing about 3.22 million compared to just 500k from the shorts. The imbalance reached 537%, which is quite extreme.

The interesting thing is that XRP rose 0.06% during the day ( now at $1.43), but that didn’t save those betting on a stronger move toward $1.50. The price got stuck between $1.32 and $1.28, triggering cascading liquidations on exchanges. Volume remained active but wasn’t enough to break resistance. Weekly, it remains negative at -2.71%.

What catches my attention is that some traders are still positioning themselves because historically April has been a strong month for XRP. But looking at the broader picture, the token closed Q1 with a 27% drop, the worst since 2018. Additionally, technical analyses suggest a possible 41% retracement against Bitcoin if overall market pressure continues.

Basically, the sentiment is cautious. Holders are expecting stability but the price doesn’t confirm new strength. With Ripple Labs and its ecosystem under pressure like the rest of the market, it seems traders are in wait-and-see mode, watching whether April brings the expected rebound or if liquidations continue.