- XRP saw over $9.9 million in liquidations from long positions.
- EURØP stablecoin meets EU MiCA rules and runs on XRPL.
XRP traders faced steep losses over the past 12 hours as market volatility triggered a wave of liquidations. According to CoinGlass, long positions accounted for $9.94 million of the total $10.37 million in liquidations.
Only $431,260 was liquidated for short positions, revealing a 2,306% disparity. This imbalance highlights the market’s strong bullish bias before the downturn.
XRP’s price had climbed steadily to $2.47 before it dropped under pressure, triggering automated sell-offs. The token found short-term stability at $2.36, but not before significant losses hit traders.
Analysts note that the skewed liquidation profile reflects high leverage risks when sentiment flips quickly.
In the broader crypto market, XRP stood out not for the scale of liquidations but for the sharp directional skew. The disparity emphasized how one-sided optimism can expose traders to rapid losses during pullbacks.
XRP Enters Downtrend After Rejecting Key Resistance
XRP’s short-lived bullish run appears to have ended as the price slipped into a clear downtrend. TradingView’s 4-hour chart showed that the token surged to a peak of $2.6579 after breaking out from a falling wedge near $2.2164. However, the rally failed to hold as sellers returned.
Since then, XRP has struggled to break the $2.45 resistance, facing repeated rejections. The asset now trades around $2.3389, reflecting a downward trajectory. Technical analysts point to a descending channel that began after the peak, suggesting bearish sentiment is building.
Market observers are now monitoring the $2.30 support level. A confirmed breakdown could lead to deeper declines unless buyers step in to reverse the momentum.
EURØP Stablecoin Debuts on XRP Ledger with Full MiCA Compliance
Schuman Financial recently announced the launch of EURØP, the first euro-backed stablecoin to meet MiCA’s regulatory standards. The launch occurred in Paris and confirmed EURØP’s live deployment on the XRP Ledger. Schuman is regulated by France’s ACPR, with reserves held at institutions like Société Générale and audits conducted by KPMG.
The XRP Ledger supports finality in 3–5 seconds with minimal fees, making it an efficient platform for EURØP’s transactions. The stablecoin adheres to MiCA’s e-money token standards, offering full fiat backing, daily redemption, and regulatory oversight.
Ripple’s Cassie Craddock stated the integration supports institutional-grade infrastructure aligned with EU compliance. The move could pave the way for euro-denominated DeFi, FX corridors, and tokenized asset settlements within the European blockchain ecosystem.
