XRP Jumps 6.4% as $300 Million in Shorts Liquidate on Bitcoin's Break Above $84,000

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Summary · why it matters

XRP rose 6.4% to $1.47 on September 21 after Bitcoin broke above $84,000, triggering roughly $300 million in short liquidations within a single hour. CoinGlass reported that about $313 million in positions were liquidated in the hour Bitcoin crossed $84,000, with shorts making up 96% of that amount, while roughly $710 million was liquidated over 24 hours with shorts at 86%. XRP absorbed the largest share of those forced buybacks, helped by a funding rate that had been negative since September 11, signaling a crowded short book. Bitcoin climbed 5.3% to $84,702, its highest level since January 31, while Ethereum gained 5.4%, Solana 6.6% and Zcash 4.5%. Despite the daily gain, XRP remains down 1.5% over the past 30 days and about 20% for the year, and Ripple's scheduled October 1 release of one billion XRP from escrow could weigh on the price. A close above $1.50 opens the path to $1.55 and $1.70, while a close below $1.41 would signal the squeeze is spent.

Impact on assets 2

Others▲ · 2 stocks
Bitcoin
BTC-USD
▲ PositiveMonetaryrelevance

Bitcoin broke above $84,000, its highest since January 31, triggering $300M in short liquidations.

XRP
XRP-USD
▲ PositiveMonetaryrelevance

XRP jumped 6.4% to $1.47 as forced short buybacks hit it hardest after Bitcoin's break above $84,000.

Off-coverage companies 1

Ripple Labs Inc.Private▼ Negative
Supplyrelevance

Ripple's scheduled October 1 release of one billion XRP from escrow could weigh on the price.

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