Same Tape, Two Squeezes: ETH/SOL Shorts, XRP Longs Paid

ETH and SOL Shorts Are Getting Squeezed Right Now

The last 24 hours of crypto liquidations tell two opposite stories at the same time. ETH shorts paid 61% of the coin's $77.9M in total liquidations, and SOL shorts paid even more, 72% of its $20.4M. That means sellers who pressed ETH and SOL into the recent dip got run over as both bounced: ETH is back at $2,504, up 2% on Binance and OKX, while SOL sits at $101.8, up 5.1% on both venues after reclaiming the $100 level.

The 4-hour window shows the same impulse from the other side. Over the last 4 hours, 82% of all liquidations across the market were shorts, roughly $46.2M of the $56.3M total. The bounce came in a hurry, and the squeeze followed. SOL's short flow alone was $14.6M of its $20.4M 24-hour total, which is a heavy concentration for a single altcoin.

XRP Longs Paid 80% While the Index Grinds Higher

The flip side is XRP. Its 24-hour liquidation mix is 80% longs, $14.4M of the $17.9M total, while shorts only contributed $3.5M. XRP is down 1.9% to $1.412 on both Binance and OKX, and it has been drifting all day while BTC and ETH recovered. So the same tape has a squeeze on one side and a flush on the other, and both happened within the same 24-hour window.

It is a reminder that a market-wide bounce does not carry every coin with it. Leverage that entered XRP during the earlier push to $1.45 is being cleaned out at $1.41, while leverage that bet against ETH and SOL is being wiped at higher prices. The rotation is happening inside the liquidation feed, not just in the price chart.

What the Coin-Level Split Means

When longs and shorts are both bleeding in the same window, the market is not trending, it is rebalancing. Total liquidations sit at $262M for 24 hours, split almost exactly 48% longs and 52% shorts. That is a far healthier mix than the one-sided $459M flush on August 25, where shorts paid most of the bill.

For traders, the practical read is simple: chasing either direction right now is expensive. The squeeze fuel on ETH and SOL is partially spent, and XRP still has overhead supply from the $1.45 rejection. Watching per-coin liquidation splits, not just the market total, is the better way to see where the next flush is forming.

Data as of 09:45 Beijing time, covering Binance, OKX, Bybit, Hyperliquid, Gate, Bitget and other major exchanges.