The XRP derivatives market saw a major liquidation event on October 6, 2025, according to community analyst Chad Steingraber.
Data he shared showed that XRP long positions across major exchanges were liquidated for a total of $17.73 million, marking the largest long-side wipeout since September 24.
The liquidation occurred when XRP was trading at $2.885, and was followed by an immediate reversal in market flows. Steingraber later noted that net inflows had already climbed back to $5.82 million, indicating renewed interest in XRP positions soon after the event.
Biggest XRP Long wipeout since Sept. 24th at $17.73Million in total.
We've already reversed and sitting at $5.82Million in Net Inflows. https://t.co/n2bokkL65i pic.twitter.com/GZibMz6tZg
— Chad Steingraber (@ChadSteingraber) October 7, 2025
Exchange Breakdown and Market Exposure
The liquidation data revealed that most of the leveraged long activity was concentrated on a few leading derivatives exchanges. Bybit accounted for the largest portion, with $8.93 million in long positions.
Binance followed with $3.57 million, while OKX, Hyperliquid, and Gate reported $1.67 million, $1.47 million, and $1.34 million, respectively. Smaller but noticeable long positions were seen on Bitmex, CoinEx, HTX, and Bitfinex.
At the same time, short positions across all exchanges totaled $1.81 million, which is significantly lower than the combined long exposure. This means that even after the wipeout, the long side of the market remained dominant, suggesting that overall sentiment among traders was still leaning toward bullish expectations for XRP.
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Rapid Reversal in Inflows
Following the liquidation, market data showed that new capital quickly began flowing back into XRP positions. Steingraber pointed out that net inflows had already reached $5.82 million, a figure that helped offset the earlier losses from the liquidation event. This quick turnaround suggested that many traders viewed the wipeout as an opportunity to re-enter positions at more favorable price levels.
Community voices also echoed similar interpretations of the event. A commentator known as X Finance Bull stated that the shakeout likely cleared weaker positions, implying that a stronger price move could follow.
Another observer, JO, noted that weaker holders had been flushed out and highlighted that inflows were already rebounding strongly. Both remarks reflected the growing confidence among XRP traders that the market correction might have reset leverage and paved the way for more stable positioning.
The liquidation and subsequent inflows underline how sensitive XRP’s leveraged markets react to price swings at elevated levels. While it remains to be seen whether the new inflows will sustain a broader recovery, the quick rebound demonstrates that confidence in XRP’s price structure remains intact among derivatives traders. The data also points to continued interest in long positions, despite short-term volatility.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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