The cryptocurrency market recently experienced a significant leverage wipeout, resulting in a staggering $227.93 million in total liquidations and forcing 79,525 traders out of their positions over the past 24 hours. This widespread market correction saw considerable pressure across multiple tokens as leveraged positions were unwound.

Amidst this broad market turmoil, XRP presented a unique and unusual anomaly: a reported $0 on the short-liquidation line. While XRP's total liquidations amounted to $10,090, the entirety of this figure stemmed from long positions, with short positions showing an exact zero on the CoinGlass map. This is particularly striking given the aggressive unwinding of leverage observed throughout the wider crypto market.

There are two primary, non-speculative interpretations for XRP's zero short liquidations. One possibility is that XRP short positions were either light in exposure or had already been significantly reduced, meaning there simply wasn't enough leveraged short exposure to trigger forced liquidations. Alternatively, short sellers may have proactively closed their positions manually before reaching critical liquidation levels. In this scenario, while traders would still incur losses through normal market buys, fees, and slippage, a