XRP Price Faces Pressure After $30 Million Liquidation Cascade

The XRP price came under pressure after a reversal caught traders positioned for further gains. U.Today reported on November 7, 2026, that derivatives traders betting on a rise lost more than $30 million over five days, citing CoinGlass. The outlet described a liquidation cascade after optimism on November 4 gave way to a sudden price reversal.

What happened to the XRP price

U.Today said optimism on November 4 gave way to a sudden reversal, catching traders positioned for further gains. Over the five days covered by the report, derivatives traders betting on XRP’s rise lost more than $30 million. The outlet described the move as a long squeeze: traders with leveraged positions were caught in a falling market, and forced closures added to the cascade.

Friday’s liquidations totaled $16.75 million, according to U.Today’s account of CoinGlass data. Long positions accounted for $16.01 million, or 95.54% of the total. Short liquidations were about $746,000. The outlet said Friday’s liquidations were 2.74 times the weekly average. Binance accounted for $8.06 million in liquidated XRP positions, and more than 3,600 traders worldwide reportedly lost their deposits completely.

U.Today’s story, published at 04:00 UTC, put XRP at $1.1799 after a 6.41% spot-price decline over the preceding days. A separate market-data snapshot from CoinGecko showed $1.16 at 06:13 UTC. These figures refer to different observation times.

Background and context for the XRP price move

U.Today attributed the liquidation cascade to traders opening leveraged positions as they expected the rally to continue, then facing forced closures as the market fell. The report describes how those closures added to the cascade. It does not establish what caused the initial reversal.

U.Today also said XRP had broken below the $1.20 psychological threshold. Its November 7 market review reported that a November 5 snapshot showed more than $12 million in XRP long liquidations. That earlier figure and the later five-day total are separate reports and should not be added together as independent losses.

For chart context, U.Today reported that XRP was below its 50 and 100 exponential moving averages, with the 100 EMA at $1.271 acting as resistance in its analysis. The outlet gave a Relative Strength Index reading of 33.21 and described the trend as pointing down. These are the outlet’s technical readings, not official guidance from Ripple.

CoinDesk reported separate XRP Ledger news that week. The fixCleanup3_4_0 amendment activated on November 4 at 14:52 UTC to address a token-permission flaw affecting issued assets, not XRP itself. CoinDesk said there had been no publicly confirmed exploitation. The reported software issue is distinct from the derivatives activity, and the available reporting does not connect the two.

Market reaction and liquidation risk

At 06:13 UTC on November 7, CoinGecko data showed XRP down 2.28% over 24 hours and 6.59% over seven days. Bitcoin was up 0.76% and Ethereum was up 1.30% over 24 hours in the same snapshot. The Crypto Fear & Greed Index was 25, classified as Extreme Fear, on November 7.

U.Today identified $1.1588 as a nearby “long pain” level, 1.79% below the $1.1799 price in its story. The outlet reported an estimated roughly 50% chance of a test within 24 hours and said a move through the level could force-close another 928,900 in positions. These are estimates, not confirmed future events. CoinGlass says its liquidation pain levels are estimates derived from perpetual-futures heatmaps on major exchanges, not confirmed triggers.

The report describes substantial losses among leveraged traders and an estimated level where further liquidations could occur. The separate XRP Ledger report concerns a flaw affecting issued assets, rather than XRP itself. Neither report establishes what XRP will do next.

What to watch next

The levels cited in the reporting include $1.1588, which U.Today described as a nearby estimated liquidation area, and the $1.20 threshold that XRP had fallen below. A move toward or through either level is a possible market scenario, not an established outcome. U.Today also reported that the price was below the moving averages in its chart analysis.

CoinGlass describes its liquidation levels and amounts as estimates based on perpetual-futures liquidation heatmaps. The reported figures therefore should be read as estimates rather than confirmed future events. The market snapshots in this report also reflect different times and timeframes.

FAQ

Why did the XRP price fall?

U.Today attributed the losses to a reversal after optimism on November 4. It said forced closures of leveraged long positions added to the cascade, but did not establish a single underlying cause for the initial decline.

What is the $1.1588 XRP liquidation level?

It is an estimated nearby “long pain” level cited by U.Today. CoinGlass says these levels are estimates derived from perpetual-futures liquidation heatmaps, not confirmed triggers, so the figure does not establish that XRP will reach that price.

Can the XRP price recover above $1.20?

The supplied reporting does not establish whether XRP will regain $1.20. The level was identified as a threshold XRP had broken below, but the evidence does not determine its future price direction.

Sources

• XRP Price Trapped at $1.1799 After $30 Million Cascade Liquidation (U.Today)
• XRP Had the Worst Day in Ages, Hyperliquid (HYPE) Awaits Volatility, What Pushes Stellar (XLM) Down? Crypto Market Review (u.today)
• XRP Ledger fixes a disclosed bug that could have led to the creation of new tokens (www.coindesk.com)

This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrencies are highly volatile; always do your own research before investing.