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암호화폐 뉴스 기사
XRP Shorts: $80 Million on the Line, What's Next for XRP: A Crash or Rally?
2025/01/11 17:08
As Ripple (XRP) continues to trade within a critical price range, traders are betting heavily on both sides of the coin. While some anticipate a price reversal, others remain bullish on XRP, betting on a price breakout.
According to the latest data, nearly $80 million worth of XRP short positions are at risk of liquidation if the price manages to cross a critical resistance level. However, if the price fails to break out and drops further, it could lead to a “crash” scenario.
XRP Shorts: $80 Million at Stake
As XRP’s price reached new heights, traders anticipated a price correction, leading to a significant buildup in short positions. With XRP currently trading at $2.335, these short positions could face forced liquidation if the price surpasses the key $2.40 resistance level.
According to CoinGlass data, traders are betting on a price decrease, with nearly $80 million in XRP shorts hanging in the balance. Out of these positions, $8.08 million of shorts are from Bybit, $2.51 million from OKX, and $8.42 million from Binance, with the remaining positions spread across various other exchanges.
If these short positions are liquidated, it could create substantial buying pressure as the short-sellers are forced to close their positions, potentially fueling further price increases.
Symm Triangle Setup: A Key Technical Indicator
Interestingly, XRP’s price action is forming a symmetrical triangle setup, a pattern that usually indicates an impending breakout. According to MAXPAIN, a well-known analyst in the crypto space, this formation suggests that XRP is preparing for a major price move.
The Bollinger Band Width (BBW) also indicates that volatility is at a local low, signaling that a breakout is imminent. However, the direction of the breakout remains uncertain, as a symmetrical triangle pattern lacks a clear bias.
Despite the possibility of a bullish breakout, the four-hour RSI indicates a downtrend, struggling to break above the 50 mean level. A failure to push above this level could lead to a bearish rejection, allowing negative momentum to take control and sending XRP’s price lower.
XRP at a Crossroad: A Crash or Rally?
If XRP manages to cross the $2.40 resistance, the liquidation of these short positions could potentially trigger a massive rally. The forced buying from short-sellers could drive prices higher, with key resistance levels at $2.90, $3, and even $3.50 in sight.
On the other hand, if the current downtrend persists, XRP could face a pullback. Analysts are eyeing key support levels at $2.07, $2, and $1.90. In a worst-case scenario, some experts predict that XRP could fall as low as $1.50 before embarking on another rally.
Ripple is at a critical juncture in its price action, and the coming days will reveal whether the short positions get liquidated, leading to a potential breakout, or if the price struggles and triggers further bearish momentum. As XRP faces resistance levels and key technical indicators, traders are watching closely for signs of either a bullish rally or a price correction.
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