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XRP-backed loans trigger 883 liquidations on Morpho, with $53M still at risk

XRP-backed loans on Morpho triggered 883 liquidations between Nov. 7 and Nov. 13, 2026, CryptoSlate found. Borrowers gave up 4.18 million cbXRP, a token representing XRP on Base, while liquidators repaid 4 million USDC of the borrowers' debt and took the collateral in return. About $53 million in XRP loans remains at risk of liquidation, and on-chain records leave any link between the liquidations and native XRP selling unproven.

XRP-backed loans on Morpho triggered 883 liquidations between Nov. 7 and Nov. 13, 2026, CryptoSlate found. Borrowers gave up 4.18 million cbXRP, a token representing XRP on Base, while liquidators repaid 4 million USDC of the borrowers' debt and took the collateral in return. About $53 million in XRP loans remains at risk of liquidation, and on-chain records leave any link between the liquidations and native XRP selling unproven.

Key facts

  • XRP-backed loans on Morpho triggered 883 liquidations between Nov. 7 and Nov. 13, 2026, according to CryptoSlate.
  • Borrowers who put up cbXRP, a token representing XRP on Base, surrendered 4.18 million cbXRP in the liquidations.
  • Liquidators repaid 4 million USDC of the affected borrowers' debt and took the cbXRP collateral in return.
  • Approximately $53 million in XRP loans remains at risk of liquidation, per CryptoSlate.
  • On-chain records leave a link between the liquidations and native XRP selling unproven, according to CryptoSlate.
  • Liquidators repaid 4M USDC of the affected borrowers' debt and took the cbXRP collateral in return.
  • The liquidations occurred on Morpho between Nov. 7 and Nov. 13, 2026.

Sources · 2 sources

  1. CR

    CryptoSlate@CryptoSlatePost on X ·

    Borrowers who put up cbXRP, a token representing XRP on Base, gave up 4.18M of it in Nov. 7–13 liquidations on Morpho, CryptoSlate found. Liquidators repaid 4M USDC of those borrowers’ debt and took the collateral in return. via @akibablade https://t.co/bCQZivrBAU

    Open source
  2. CR

    CryptoSlateArticle ·

    XRP loans trigger 883 liquidations, and $53M remains at risk Borrowers surrendered 4.18 million cbXRP on Base, while the records leave a native XRP selling link unproven. Read the full story on CryptoSlate Understand the crypto stories that matter and what to watch next. Get The Catalyst in your inbox

    Open source