- XRP’s price surge to $2.67 puts $272M short positions at risk of liquidation.
- A price move beyond $3 could trigger forced buybacks, driving higher gains.
- Binance leads trading activity, with major liquidation pressure between $2.68 and $2.77.
XRP’s price is approaching a level, placing $272.3 million worth of short positions at risk of liquidation. At the current price of $2.677, a break toward $3 could trigger a massive short squeeze, pushing prices further upward. Traders are now closely watching XRP as the market edges toward key resistance levels.
Source:Ranajay singh
The XRP Exchange Liquidation Map highlights large short liquidations stacked between $2.688 and $2.778, creating a zone of immense activity. Binance, OKX, and Bybit lead the charts for trading exposure, with Binance showing the highest concentration of liquidations. These figures indicate a market heavily reliant on leverage, particularly in short positions.
Key Levels and Trading Pressure Intensify
A large cluster of short liquidation leverage shows traders are exposed at the $2.688 price point. If XRP reaches this level, liquidations could intensify buying pressure. Significantly, the cumulative liquidation leverage has steadily increased, reflecting growing participation among traders using high leverage.
This rising leverage curve signals a market prone to rapid movements if liquidations trigger forced buybacks. The combined activity across Binance and OKX also shows an upward trend in liquidation volumes, particularly for shorts. Consequently, this adds more pressure on short traders holding their positions near resistance.
Moreover, market watchers note a steady buildup of liquidation risks. As XRP hovers around key price clusters, volatility could escalate rapidly, driving the price toward $3 and beyond.
XRP Approaches Crucial $3 Threshold
The $3 price level holds massive significance because liquidating $272.3 million worth of shorts would create an upward momentum. This liquidation potential could lead to cascading buy orders as traders close short positions to avoid losses. Binance dominates activity, with OKX and Bybit closely following in cumulative liquidation data.
Rananjay Singh, a leading analyst, pointed out that the short squeeze scenario grows increasingly likely as XRP’s price nears $3. He emphasized the role of heavy leverage in intensifying this pressure and driving XRP’s potential breakout.
The data indicates a fragile market for shorts as XRP approaches the $2.7 to $3 range. If prices breach this mark, leveraged positions could quickly unwind, leading to accelerated gains in a short period. Traders now face a pivotal moment as XRP climbs steadily toward this Amilestone.
The post XRP Nears $3 as $272M Shorts Risk Massive Liquidation Breakout appeared first on Crypto News Land.
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