TL;DR
- XRP trades at $1.92, with a 16% weekly drop, but interest is focused on the $2.15 level.
- A “liquidity zone” concentrated near $2.15 suggests a key short-term price interaction point.
- Liquidation data shows a predominance of short positions ($24.44 million) over long positions, suggesting a possible short squeeze.
The market shows signs of a short-term movement, despite the bearish pressure of recent days, which has led XRP to trade at $1.92, falling 9.2% on Friday and 16% in the last 5 days. 24-hour volume data remains near $9.44 billion, underscoring constant activity around the Ripple asset.
Traders’ focus has shifted to the $2.15 level, a point where significant liquidity formation is observed. An XRP price analysis using Coinglass’s short-term liquidation heatmap has identified a dense liquidity band at $2.15. This zone, marked in bright yellow, indicates a concentration of leveraged positions.
This level was briefly tested on Friday when XRP reached $2.1531, with total leveraged liquidation amounting to $104.65 billion. XRP’s ability to overcome and consolidate above this threshold will be vital to confirm any short-term recovery.
Liquidation Imbalance: Short Positions in the Lead
Recent liquidation data reflects a clear imbalance. Short position liquidations have amounted to $24.44 million, far exceeding long position liquidations, which stood at $3.81 million. This pattern suggests that a greater number of bearish traders were caught off guard during recent volatility, exposing them to short liquidations.
This market trend, where short liquidations appear during price spikes, indicates that downward movements are facing occasional “short squeezes.” If the price manages to test resistance between $2.00 and $2.15, this pattern could consolidate as a turning point.
According to ChartNerdTA, despite short-term fluctuations, the long-term XRP price analysis at $2.15 shows that the asset remains above an ascending support. This structure resembles the cycle XRP experienced between 2013 and 2017, building an ascending triangle with flat resistance.
As long as the price remains above support, this macroeconomic structure remains in effect, suggesting that, in the long term, growth potential remains intact.
The market is now at a point where short-term liquidity intersects with the long-term structure. XRP’s future will depend on the demand generated around these key levels.
