Crypto Catastrophes: XRP’s Liquidation Woes and Bitcoin’s Grim Forecast!

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Extreme XRP Long Wipeout

Oh, dear reader, it appears that our dear XRP has taken quite the tumble, as if it were a character in one of my novels, caught in a most unfortunate predicament! The bulls, those optimistic creatures, have been most brutally crushed under the weight of a most unprecedented liquidation imbalance. 🐂💔

  • Unprecedented Imbalance. According to the esteemed CoinGlass, a staggering 101,445% skew between longs and shorts has been observed. One must wonder if the bulls were simply too confident in their charms!

For the second time this week, the XRP derivatives market has revealed a number so shocking, it could make even the most stoic of gentlemen gasp. In a mere hour, the liquidation tracker displayed an imbalance of 101,445% between long and short positions. Naturally, the majority of this calamity befell the bullish side, as if fate itself had conspired against them.

The mathematics of this wipeout are as brutal as a villain’s betrayal: $4.21 million worth of longs received a most unwelcome margin call, whilst the shorts barely registered a paltry $4,150. Such a skew is not merely a financial disaster, but a testament to how crowded the long trade around XRP had become-like a ball where too many suitors vie for the same hand! 🎩💃

  • Price Reaction. Alas, XRP has failed multiple times at the $2.88 resistance, much like a suitor who cannot muster the courage to propose.

As XRP meanders toward $2.83, it seems the pressure is mounting, much like the tension at a family gathering where secrets are about to be revealed. Over the last 24 hours, liquidations across the market have surpassed a staggering $475 million. Ethereum alone has seen a loss of $10.81 million, Bitcoin $5.81 million, and Solana $1.82 million. Longs accounted for a hefty $403 million of this total, whilst shorts merely claimed $72 million. Quite the spectacle, I must say! 🎭

Bitcoin Death Cross Setup

Now, dear reader, let us turn our attention to Bitcoin, which has lined up one of the most ghastly signals one could encounter on a price chart-a death cross! 😱

  • Death Cross Signal. The 23-day moving average (green) is bending ominously into the 50-day moving average (blue). One can only hope this is not a prelude to a tragic tale!

If this cross confirms, it typically signifies that buyers have lost their way, and the price may be dragged lower, much like a hapless character in a melodrama. The next major anchor appears to be the 200-day line at $100,483, a level that could very well wipe out the entire summer run, casting a shadow over the bull narrative. How delightfully dramatic! 🎭

  • Next Anchor. The 200-day moving average sits at $100,483, a number that may soon haunt the dreams of many a trader.

Shiba Inu Burn Rate Spikes Despite Weekly Decline

In a most curious turn of events, the Shiba Inu community has managed to transfer a massive amount of meme coins out of circulation, as if they were casting off unwanted suitors! 🐕🔥

  • Daily Burn Surge. SHIB burns have soared by an astonishing 2,196.63% in just 24 hours. One must applaud their enthusiasm!

According to the diligent blockchain wallet tracker Shibburn, the community has recently engaged in a flurry of activity, transferring 1,606,561 Shiba Inu to unspendable blockchain addresses. Such a feat has led to a remarkable increase in the burn rate, a number that would make even the most seasoned trader raise an eyebrow in astonishment.

Despite this impressive surge, a recent tweet reveals a 29% decline in weekly burns, while a staggering 72,264,101 SHIB have been torched. It seems the Shiba Inu community is nothing if not dramatic in their endeavors! 🎉

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2025-08-21 21:02