Analyst: XRP On Track to Wipe Out All Shorts
Main Idea
Analyst predicts XRP is on track to eliminate all remaining short positions, signaling a potential short squeeze, with the cryptocurrency breaking key resistance levels and showing strong market support.
Key Points
1. XRP has broken the psychological barrier at $3.00, reaching an intraday high of $3.37 and establishing strong support around $3.03.
2. A liquidation heatmap suggests XRP is approaching zones where short liquidations are likely, which could drive prices higher rapidly.
3. Improved market sentiment and regulatory clarity are supporting XRP's strong performance, making it a standout in the current cycle.
4. Analysts are watching for confirmation above $3.50, which could trigger another wave of buying.
5. STEPH IS CRYPTO highlights the potential for XRP to continue its upward trajectory, though volatility remains a factor.
Description
XRP is making headlines again as its price surges past key resistance levels, placing bearish traders in a vulnerable position. According to crypto analyst STEPH IS CRYPTO, XRP is now “on track to wipe out all remaining shorts,” hinting at a possible short squeeze scenario. With XRP trading at $3.33 as of report time, the momentum is undeniable, and bulls appear firmly in control. Bullish Breakout Above Key Levels The digital asset has shattered the psychological barrier at $3.00 , reaching an i...
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