XRP Price Prediction: Bullish Breakout or Bearish Trap?
XRP Price– Ripple (XRP) is showing resilience above the critical $3.35 support level after recently hitting a new all-time high. Despite increased volatility, the price has maintained strength around $3.50, posting a modest 0.35% gain in the last 24 hours.
Traders Bet Big on a Drop—But Is the Crowd Wrong?
Market sentiment is split. While XRP consolidates, traders are placing heavy bets on a price decline. Nearly $260 million in short positions have been opened around the $3.68 mark, indicating strong bearish pressure.
Yet, despite this bearish sentiment, long-term holders appear unshaken. According to CoinGlass, over $56.85 million worth of XRP has left exchanges in just the past 48 hours—a classic sign of long-term investor confidence.
Key Levels to Watch: $3.40 or $6?
Technically, XRP remains in an uptrend, with analysts pointing to $6 as the next bullish target—if current support holds. However, with the Relative Strength Index (RSI) at 83, the asset is clearly in overbought territory. A short-term pullback to $3.40 is very possible before any further rally.
Notably, the largest downside liquidation level lies at $3.412, with $69.51 million in long positions stacked there. This could create increased volatility if breached.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
