XRP has seen a major boom in the past 24 hours as its price surpassed the majority of its peers across the board. At the time of writing, the price of the coin has increased by 12.13% to $0.7971. This price action also vaulted the company to the top of the list of assets with the most liquidations in the past hour.

XRP Liquidations: Long and short traders are affected

According to data from CoinGlass, $1.32 million worth of XRP has been liquidated in the past hour. Although this metric is highly volatile, the coin has suffered a total loss of $19.96 million in the last 24 hours.

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The currency’s volatility has led to a shared loss between long and short traders, with the former taking the biggest hit. According to the CoinGlass data, the liquidation volume of long traders is $10.86 million, while short liquidations represent $9.11 million.

XRP surpassed $0.8 on November 14, its highest price level in 52 weeks. This rally underlines the potential for XRP to respond and outperform this ongoing bull market.

This liquidation has not derailed the growth trend for XRP, underscoring how vulnerable most traders are.

Has the XRP price reached its peak?

Despite the outlook, XRP’s price might have peaked for now as its volatility is relatively lower than its peers. While XRP whales continue to demonstrate a deep commitment to the asset, major headwinds remain.

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The most important aspect to note is the ongoing Ripple v. US SEC lawsuit. While a change in administration could correct this, investors remain cautious about betting on the currency due to widespread uncertainty.

Based on this, XRP has reached its peak for the time being. Investors could also focus on less problematic assets such as Bitcoin (BTC), Ethereum (ETH) and Solana (SOL), all of which have positive growth forecasts.