XRP Rockets 7,676% in Liquidation Imbalance, 12,887.11% for Shiba Inu, Ripple CTO Back In Code — Crypto News Digest
Main Idea
The article covers recent developments in the cryptocurrency market, focusing on Ripple's CTO building a custom XRPL monitoring tool, XRP's significant liquidation imbalance, and Shiba Inu's misleading outflow spike.
Key Points
1. Ripple's CTO, David Schwartz, is developing a custom XRPL monitoring tool using a high-performance server setup, though the project has no official Ripple involvement.
2. XRP experienced a 7,676% imbalance between long and short liquidations, with over $2.61 million in long positions wiped out, signaling potential overexposure.
3. Shiba Inu saw a reported 12,887% increase in large holder outflows, but the dramatic percentage may be misleading due to low baseline values.
4. XRP's price dropped 2.94% to $2.97 amid the liquidation imbalance, with rapid sell-offs flipping support levels quickly.
5. The article highlights market volatility and on-chain anomalies in XRP and Shiba Inu, without clear long-term implications.
Description
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