The crypto market returned to red on Monday, with $360 million in liquidations over the last 24 hours.
XRP was likewise trading in red, down 2.99% in the last 24 hours to $1.40. This drop is reflected on the derivatives market, with XRP futures flow, which suggests futures contracts inflows or outflows across major exchanges — indicating whether capital is entering or leaving derivative positions — dropping 3,711.06% in the last four hours.
In the last 24 hours, $7.87 million were liquidated in the last 24 hours; $2.02 million of this figure came in during the last four hours.
HOT Stories
Bitcoin Hashrate Plunges 10%
Crypto Market Review: XRP’s $991 Million Bounce, Ethereum (ETH) Back in Green Zone, Shiba Inu (SHIB) Only Looking Up
According to CoinGlass data, XRP futures inflow came in at $174.19 million in the last four hours, less than outflows at $204.77 million. The netflow change came in at a negative $30.57 million, yielding negative flows of 3,711.06%.
The negative futures flow, which suggests increasing outflows in the last four hours, might indicate closing positions amid the ongoing market sell-off.
XRP rebounded as much as 25% on Friday before retracing; thus the negative net outflow might suggest ерфе traders are reducing their exposure, in line with profit-taking or de-risking.
Still, in a tentative sign of returning optimism, XRP exchange-traded funds recorded inflows of $15.16 million on Feb. 6, while cumulative weekly netflows came in at $39.04 million.
February is set to see new amendments activate on the XRP Ledger. These include Permissioned DEX and Token Escrow amendments. On Feb. 11 and 12, the XRP community day event will convene XRP holders, builders, institutions and Ripple leaders to discuss what’s next for XRP.
Crucial data awaited in market
The crypto market is largely trading down ahead of a busy week. Investors are expecting a slew of economic data this week, much of which was delayed due to the partial government shutdown. This includes the delayed nonfarm payrolls report for January, which was initially scheduled for last Friday, but which the Bureau of Labor Statistics will now release on Wednesday morning.
The January consumer price index reading, also delayed by the shutdown, is scheduled for Friday morning.
In addition to these reports, investors will await retail sales for December on Tuesday and weekly initial jobless claims on Thursday.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
