Arab Chain
Binance data indicates a decline in XRP liquidations amid pressure on long positions
XRP data on Binance reveals clear shifts in the leverage structure. The data shows that total long position liquidations over the past 30 days reached approximately $39.8 million, while short position liquidations totaled around $19.7 million during the same period. This difference indicates that long positions remain under greater pressure than short positions, reflecting continued market caution and weak short-term upward momentum. The data also shows that the 30-day cumulative funding rate registered a slightly negative value of approximately -0.000007, indicating a mild bias toward short positions in the derivatives market. Continued funding in negative territory reflects cautious expectations among traders, with a defensive bias dominating market behavior. The simultaneous decline in both short and long liquidations suggests a reduction in market overextension, which could lower the likelihood of sharp moves resulting from large-scale liquidations. However, the continued dominance of long position liquidations indicates that traders are still facing pressure during attempts to rebound. Leverage data for XRP on Binance reflects a decline in leverage usage compared to previous periods, alongside a slight bias toward short positions. This suggests a relatively stable market that lacks strong momentum, potentially paving the way for larger future moves if liquidity and leverage return to higher levels.