Solana and XRP Lead Liquidations as Short Traders Suffer Heavy Losses

Solana (SOL) short traders faced significant losses as the cryptocurrency market staged a recovery, with SOL emerging as the top liquidation leader. According to CoinGlass, Solana saw $14.69 million in total liquidations over the past 24 hours, outpacing XRP by $5.22 million. Notably, short traders accounted for $12.53 million of these losses, nearly six times more than long traders, who lost only $2.16 million.

SOL’s price rebound from $117.62 to $124.34—a 4.85% gain—fueled the liquidation wave. This upward momentum has raised hopes of breaching the $130 resistance level. The sharp losses among short sellers highlight the risks of bearish sentiment amid unexpected market rebounds. With increased trading volume, the surge suggests that futures traders remain confident in Solana’s continued rally.

XRP traders also experienced similar patterns. Liquidations totaled $5.22 million, with $3.38 million lost by short positions and $1.84 million by long positions. The data indicates that traders broadly misjudged the market’s direction following a shift in sentiment triggered by the suspension of previously announced trade tariffs.

The broader crypto market saw a 1.41% increase in total market cap during the same period, further signaling a potential turnaround in investor outlook. As SOL leads the charge, the trend reflects a renewed interest in altcoins and a move away from bearish positioning.

With the current price surge and trader confidence rising, Solana could be poised for a stronger breakout if buying momentum continues. However, the recent liquidations also serve as a stark reminder of the volatility and high risk in futures trading.