XRP Price Slides to $1.10 as Sunday’s Crypto…
By Karthik Subramanian
AI summary of the source article
XRP fell toward $1.10 on Sunday, November 8, reaching an 11-week low amid widespread cryptocurrency liquidations. Over $1 billion in crypto derivatives were liquidated across the market within 24 hours as major assets, including Bitcoin and Ethereum, extended losses.
Why it matters
The decline "underscores XRP's sensitivity to market-wide leverage unwinding, with its immediate trajectory increasingly influenced by Bitcoin's performance, derivatives positioning and investor appetite for cryptocurrency risk."
Key facts
- XRP declined approximately 4.4% to around $1.112, briefly touching an 11-week low of $1.104.
- More than $1 billion in cryptocurrency derivatives were liquidated over 24 hours, with $931 million in leveraged longs.
- XRP recorded about $30.8 million in derivatives liquidations on November 8, including $30.2 million in long positions.
Source excerpt · FinanceFeeds
XRP falls to an 11-week low as leveraged long positions unwind, while Bitcoin and Ethereum extend losses amid mounting regulatory uncertainty and broader cryptocurrency market weakne ss. XRP declined toward $1.10 late Sunday, November 8, as a cryptocurrency market sell-off triggered widespread liquidations and pushed major digital assets to their lowest levels in more than two months. The Ripple-a…