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The crypto market is extending a selloff from the weekend, with most assets trading in the red as traders weigh inflation concerns.
Major cryptocurrencies, especially the top ten, are down 2% to 7%; XRP fell 3.82% in the last 24 hours and is about to give up its weekly gains, up just 0.18% in the last seven days. A total of $378 million in crypto liquidations have occurred across the market, according to CoinGlass data.
Along these lines, XRP is seeing a 980% liquidation imbalance because longs, or traders betting on further price increases, got caught up in the market selloff.
XRP price retraced after a surge to $1.62 on September 25 and closed the weekend lower, recording two straight days of declines.
Given this, traders naturally expected a rebound, but they were met with disappointment amid the ongoing selloff in the market early Monday, with XRP further dropping to a low of $1.47.
This move caught traders betting on an increase off guard, with $10.88 million out of a total $11.99 million in liquidations coming from longs, or bullish traders. Short traders were liquidated for $1.11 million, according to CoinGlass data, producing an imbalance of 980%.
Busy week and month ahead
Investors are looking ahead to a flurry of fresh domestic economic data releases this week.
The latest monthly nonfarm payrolls data and unemployment rate are due out later in the week, following the core PCE index and the latest quarterly GDP growth print. These data are significant as they could influence Fed rate-cut bets and the broader market.
The XRP Ledger is preparing for a busy October with key updates Batch, fixBatchV1_2, and permissions delegation set to launch in the month. Batch and fixBatchV1_2 are looking to activate on mainnet on October 9, while permissions delegation is set to launch on October 8, 2026, if they remain above 80% support for the two-week activation window.
Ripple Swell is scheduled for October 27–29, 2026. XRP Seoul will be held on October 3, 2026, at the Grand Hyatt Seoul as part of Korea Blockchain Week.