Analyst: XRP On Track to Hunt Every Stop Up to $4.50 Based On This Liquidity Trend
Main Idea
An analyst suggests XRP could potentially rise to $4.50 based on a liquidity heatmap showing significant short-side liquidity above current price levels, with notable gaps above $4.50 that may facilitate upward movement.
Key Points
1. A Coinglass liquidity heatmap indicates a build-up of short-side liquidity above current XRP prices, with concentrated order zones between $3 and $4.50.
2. XRP previously surged to an all-time high of $3.65 in mid-July before correcting to $2.99, leaving a liquidity footprint that could influence future price movements.
3. The absence of significant liquidity above $4.50 suggests potential for a cleaner upward move if prices reach that level.
4. Liquidity heatmaps highlight areas where strong upward price extensions or stop-loss triggers may occur.
Description
A recent liquidity heatmap from Coinglass shows a notable build-up of short-side liquidity above current XRP price levels. The chart, shared by analyst Steph Is Crypto (@Steph_iscrypto), outlines a sequence of concentrated order zones extending from just above $3 to roughly $4.5. The positioning of these clusters suggests a market environment where an upward move could trigger a chain reaction of liquidations and stop orders. XRP Chart Breakdown The heatmap plots both historical price action and...
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