After a continuous price drop, XRP is about to get out of its prolonged consolidation phase, a key resistance area. The main reason for these upward perspectives is the rebound in price on the cryptocurrency market.
XRP price momentum
With the change of feeling of the market, the price of XRP has climbed 2.50% in the last 24 hours and is currently negotiated near the level of $ 2.51. This price wave pushed the assets near the upper limit of its $ 2.54 consolidation zone.
If the feeling of the market remains unchanged, there is a strong possibility that XRP can violate this prolonged obstacle and increase by 30% to reach the level of $ 3.32.
XRP key levels and over -assessing positions
By looking at the upward perspectives, intrajournal traders occupying long positions dominate XRP strongly, having maintained significant open positions in the last 24 hours.
The data show that traders with long positions are above $ 2,386, where they built $ 65 million in long positions. Meanwhile, $ 2,533 is another key level where merchants with short positions are highlighted, currently holding $ 20 million short positions.
By examining the current XRP price compared to the level of liquidation, it seems that $ 20 million in overexcrelary positions are at risk of liquidation, because the price is close to the level of $ 2,533. If this level is liquidated, there is a strong possibility that XRP can easily reach its level provided due to minor Paris by short traders.