XRP Longs Wiped for Over $5M as Trump’s Greenland Tariff Threats Rattle Crypto

XRP derivatives merchants confronted heavy losses on January 19 after a pointy crypto market pullback tied to renewed U.S.-EU commerce tensions linked to President Donald Trump’s tariff threats over Greenland.

The selloff triggered greater than $5 million in pressured XRP lengthy liquidations, with Binance accounting for over $1 million, as leveraged bets unraveled alongside a broader risk-off transfer throughout digital belongings.

XRP Liquidations Follow Trump Tariff Headlines

According to knowledge shared by market analyst Amr Taha on January 18, XRP noticed certainly one of its largest single-day lengthy liquidation occasions this month. Total lengthy liquidations topped $5 million, reflecting merchants caught on the fallacious aspect of a fast-moving drop after weekend macro headlines shook sentiment.

The stress adopted a Financial Times report printed stating that European capitals have been contemplating tariffs of as much as €93 billion, or about $108 billion, on U.S. items. The transfer was described as a possible response to Trump’s threats towards NATO allies over Greenland, and landed simply days after the U.S. president confirmed new tariffs on a number of European nations, together with Denmark, Germany, and France, beginning February 1.

Crypto markets reacted rapidly. Bitcoin dropped from above $95,000 to under $93,000 inside hours, with the Kobeissi Letter reporting that just about $500 million in leveraged lengthy positions have been worn out in roughly 60 minutes, whereas dealer CW mentioned whole liquidations throughout the market reached about $871 million over 24 hours.

XRP adopted the broader market decrease, amplifying losses for leveraged merchants as volatility spiked throughout main exchanges.

XRP Price Action

At the time of writing, XRP was buying and selling round $2.00, down about 5% within the final 24 hours, in accordance with CoinGecko knowledge.

The Ripple token has misplaced roughly 5% over the previous week and shut to eight% up to now 14 days. Meanwhile, throughout the previous month, it stays modestly greater, up simply over 2%, whereas its one-year acquire stands close to 39%.

The newest drop pushed XRP towards the decrease finish of its weekly vary, between $1.95 and $2.18, with sellers once more defending the $2.10 to $2.15 space.

The transfer comes regardless of latest energy in spot XRP exchange-traded funds, which posted web inflows of about $57 million final week, reversing temporary outflows seen earlier this month.

Still, ETF demand has not translated into sustained value energy, leaving XRP susceptible throughout macro-driven risk-off strikes.

Technical analysts had already flagged weakening momentum earlier than the liquidation occasion. An evaluation from final Friday by ChartNerd noted XRP buying and selling inside a descending channel, with consumers exhibiting curiosity close to $2.00 however failing to reclaim greater resistance.

The January 18 selloff bolstered that warning, as macro headlines as soon as once more outweighed crypto-specific positives.

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