XRP prices consolidate – Will $260M in shorts spark a reversal?
Main Idea
XRP prices are consolidating above $3.35 with mixed trader sentiment, as $258 million in short positions suggest potential volatility, while experts remain bullish due to ETF optimism and technical breakout signals.
Key Points
1. XRP price is consolidating above $3.35 after reaching an all-time high, with $258 million in short positions opened around $3.68.
2. Long-term holders are accumulating XRP, while $56.85 million worth of XRP exited exchanges in the last 48 hours.
3. Key liquidation levels are at $3.412 (with $69.51 million in long positions) and $3.684 (with $258 million in short positions).
4. Experts are bullish, citing a 95% chance of Spot XRP ETF approval and a breakout from a bullish flag pattern, targeting $15.
5. XRP's RSI at 83 suggests a potential short-term correction before further gains.
Description
XRP traders have built $258 million worth of short positions at $3.68 level.
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