XRP and NEAR Lead Altcoin Squeeze as Crypto Short Sellers Lose $666 Million in 24 Hours

An altcoin breakout led by XRP and NEAR triggered $666 million in crypto short position liquidations over the last 24 hours.

Gamza Khanzadaev · 21 Sep 2026 · 5 min read

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XRP and NEAR Lead Altcoin Squeeze as Crypto Short Sellers Lose $666 Million in 24 Hours

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By
Gamza Khanzadaev

Mon, 21/09/2026 – 15:34

An altcoin breakout led by XRP and NEAR triggered $666 million in crypto short position liquidations over the last 24 hours.

XRP and NEAR Lead Altcoin Squeeze as Crypto Short Sellers Lose $666 Million in 24 Hours

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The cryptocurrency derivatives market has recorded its largest wave of forced short-position liquidations in months. According to analytics platform CoinGlass, a sharp rise in prices over the past 24 hours triggered the liquidation of short positions worth a total of $665.81 million.

Total daily trader losses, including long positions, reached $789.57 million, affecting 117,942 market participants.

*Global cryptocurrency liquidation heatmap showing total market wipeouts, Source:* *CoinGlass*

Altcoin sellers bore the brunt of the losses. While forced liquidations have historically been concentrated among major cryptocurrencies, the current cycle has seen a broad range of assets join the cascade of stop-order executions, led by XRP, NEAR, and Zcash.

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Who suffered the most (and where bears should expect the next blow)

Daily losses among short sellers were distributed as follows:

Large-cap altcoins (XRP, NEAR, ZEC): NEAR led the subgroup, surging 11.51% to $4.06 and triggering $8.88 million in short liquidations. As XRP rallied 7.99% to $1.47 and Zcash (ZEC) gained 6.24% to $1,514.93, sellers lost another $10.04 million and $11.51 million, respectively. In total, this sector cost bears more than $30 million in a matter of hours.
Bitcoin (BTC): Recorded the largest nominal volume of short liquidations at $384.71 million. The leading cryptocurrency rose 5.73%, surpassing the $85,000 mark. The day’s largest single liquidation, worth $11.29 million, occurred on Binance in the BTCUSDT trading pair.
Ethereum (ETH): Sellers of the second-largest cryptocurrency lost $157.97 million as the asset strengthened toward the major psychological level of $2,710, gaining 5.80% over the past 24 hours.
Solana (SOL): The token’s 8.15% surge to $117.28 triggered $20.21 million in forced short-position liquidations.