- Trump’s crypto reserve plan sends XRP soaring over 35% in minutes
- Short traders suffer as XRP leads liquidations, totaling nearly $57 million
- XRP reclaims the third spot in market cap, solidifying its dominance
Donald Trump’s latest move in the crypto space has sent shockwaves through the market, and XRP was one of the biggest winners. In a matter of minutes, Ripple’s token skyrocketed from $2.22 to just over $3, marking an explosive 35% surge. The entire crypto market turned green after Trump confirmed that XRP, Solana (SOL), and Cardano (ADA) would be part of his crypto reserve, alongside Bitcoin (BTC) and Ethereum (ETH).
But let’s be real—XRP’s history with Trump hasn’t always been smooth sailing. Back in November, after his landslide election victory, crypto markets rallied hard on his pro-crypto promises. Then, his policies regarding the Russia-Ukraine conflict and trade wars triggered a brutal market crash, wiping out over $800 billion in market cap in just a week.
Now, though, it looks like XRP is back in the spotlight, reclaiming its position as the third-largest crypto by market cap. Even after a slight retrace to $2.90, it’s still up 45% from Friday’s low of $1.95.
Short Traders Take a Massive Hit
With such an explosive move, liquidations were inevitable—and the shorts took the worst of it. Within a four-hour window, XRP alone was responsible for nearly $57 million in short liquidations, as traders betting against the rally got completely wiped out.
The broader market didn’t fare much better. In just 24 hours, over $630 million in liquidations hit traders, with $455 million coming from short positions. This massive unwinding only added fuel to the fire, pushing XRP even higher as shorts were forced to buy back at higher prices.
What’s Next for XRP?
Now that XRP has reclaimed a key spot in the rankings, the question is—can it hold onto these gains? If Trump’s crypto-friendly policies continue, we could see sustained bullish momentum. But let’s not forget how volatile XRP has been in the past—its rollercoaster price action has burned plenty of traders before.
Still, one thing is clear: Trump’s influence on the crypto market is undeniable, and XRP is riding that wave for now. Whether it continues this insane rally or faces another pullback, traders should brace for more volatility ahead.
