XRP joins Ether, Solana in a $369M liquidation wave

XRP joins Ether, Solana in a sweeping $369.67 million derivatives liquidation wave on Wednesday, as rising oil prices and Treasury yields lifted Fed rate-hike odds and forced more than 90,000 leveraged traders out of positions. Spot prices fell even as some crypto ETFs still drew net inflows.

Key Takeaways

• More than $369 million in crypto derivatives were liquidated, with longs making up about $302 million of the wipeout.
• Bitcoin, Ether and Solana prices slipped as oil and Treasury yields rose and Fed hike odds climbed to 66%.
• XRP fell amid a scheduled escrow unlock even after roughly $170 million in ETF inflows over 11 days.
• The SEC proposed overhauling transfer-agent rules for blockchains and set a Sept. 17 roundtable on 24/7 stock trading.

Wednesday’s sell-off hit leveraged traders hard across major coins, according to reporting republished on TradingView. The episode matters because it paired a short-term long squeeze with longer-running institutional ETF demand and a fresh U.S. regulatory push on blockchain market plumbing. For more market alerts in this lane, see our Fintech & Crypto Alerts hub.

What triggered the $369 million liquidation wave?

CoinGlass data cited in the morning roundup showed $369.67 million in liquidations. Longs accounted for $301.84 million versus $67.83 million in shorts, pointing to a long squeeze rather than a short covering rally.

Exchanges closed positions for more than 90,000 leveraged traders. About $141.44 million was liquidated over 12 hours, with another $82.10 million wiped out in the final four hours before dawn.

Macro pressure was the main catalyst. WTI crude jumped above $90–$92 a barrel, while the 10-year U.S. Treasury yield climbed toward 4.78%–4.79%. That mix lifted market odds of a Federal Reserve rate hike on Sept. 16 to 66%, cooling appetite for risk assets.

How did XRP, Ether and Solana prices move?

Bitcoin saw $111.83 million in liquidations as BTC slipped about 1.3%–1.8% toward the $77,200–$77,600 zone. Ether fell around 2% into the $2,410–$2,430 range, with $95.39 million liquidated, including an $11.99 million Binance position—the day’s largest single wipeout.

Solana dropped 2%–3.5%, breaking below $100 to $98.47, with $27.09 million in liquidations. XRP retreated as traders absorbed a scheduled escrow unlock, despite about $170 million in XRP ETF inflows over the prior 11 days and reports that Goldman Sachs had joined major holders.

Total crypto market capitalization slid to roughly $2.59 trillion–$2.70 trillion, down about 1.4%–2.2% from the prior day’s highs after Bitcoin’s roughly 25% August gain. SoSoValue figures showed $236.46 million in Bitcoin ETF outflows, while Ethereum, Solana and XRP funds still posted net inflows of $10.95 million, $10.19 million and $14.38 million.

That split fits a wider theme also noted elsewhere: Bitcoin, Ethereum and XRP have struggled to extend gains even when ETF money keeps arriving, as macro uncertainty and profit-taking offset institutional bids.

What is the SEC changing for blockchain markets?

Alongside the price action, the U.S. Securities and Exchange Commission proposed a full overhaul of transfer-agent rules so they better fit public blockchains, tokenized stocks and artificial intelligence—moving ahead of Congress’s Clarity Act talks.

A Sept. 17 SEC roundtable is set to gather firms including BlackRock, Citadel Securities, Nasdaq, NYSE, DTCC and Robinhood on launching round-the-clock trading in traditional stocks. Topics include overnight supervision, faster clearing and retail protections outside regular hours.

Industry voices framed the shift as recognition that crypto’s integration into mainstream finance is now about “how,” not “whether.” Near term, traders are watching Sept. 3 U.S. unemployment data and September’s historically weak seasonal pattern for digital assets.