XRP dropped to a low of $1.47 early Monday as a weekend-long crypto selloff continued, producing a 980% imbalance between long and short liquidations. The token had surged to $1.62 just days earlier, and traders now watch a busy week of US economic data alongside XRP Ledger upgrades due in October.
XRP fell 3.82% in the last 24 hours and is close to giving up its weekly gains, up just 0.18% over the past seven days. The broader crypto market extended a selloff from the weekend, with most major cryptocurrencies among the top ten down 2% to 7% as traders weigh inflation concerns.
Longs bear the brunt of the selloff
XRP surged to $1.62 on September 25 before retracing and closing the weekend lower, recording two straight days of declines. Traders had expected a rebound, but the ongoing selloff instead pushed XRP down to a low of $1.47 early Monday.
The move caught bullish traders off guard. Of a total $11.99 million in XRP liquidations, $10.88 million came from longs, while short traders were liquidated for $1.11 million, according to CoinGlass data — an imbalance of 980%. Across the wider market, $378 million in crypto liquidations have occurred, per the same source.
A busy week and month ahead
Investors are now looking to a flurry of fresh domestic economic data this week, including the latest monthly nonfarm payrolls data and unemployment rate, following the core PCE index and the latest quarterly GDP growth print. These releases could influence Fed rate-cut bets and the broader market.
The XRP Ledger is also preparing for a busy October. The Batch and fixBatchV1_2 updates are set to activate on mainnet on October 9, while permissions delegation is set to launch on October 8, 2026, if it remains above 80% support through its two-week activation window. Ripple Swell is scheduled for October 27-29, 2026. XRP Seoul will take place on October 3, 2026, at the Grand Hyatt Seoul as part of Korea Blockchain Week.
Source: U.Today
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