The post Here’s What Would Happen If XRP Price Hits $3 Today appeared on BitcoinEthereumNews.com.

XRP consolidates after rallying more than 500% in 2024. When there’s a pause after such a massive rally, speculation increases, especially with the Ripple token so close to its ATH. Let’s explore what could happen if the XRP price hits $3 today. What Will Happen if XRP Price Hits $3? XRP, which is consolidating around $2.51, is at its peak. The token struggled for years under the SEC Vs Ripple battle, despite achieving the ATH of $3.85 in early January 2018. Fast forward to today, the Ripple price is $2.51 after a massive bullish performance with Donald Trump’s win and Gary Gensler’s resignation announcement. These same factors could ensure further price rally. Notably, the early 2018 jump to $3 lasted only shortly before entering a years-long consolidation. The current situation hints at the possibility of the XRP price rally shortly, possibly to $3. If that happens, an unprecedented wave of short liquidations will occur, as traders have been eyeing this moment for years. A few will leave with heavy profits, but the remaining hoping for a further Ripple token price surge will bear losses as $320 million worth of shorts would get liquidated. The Coinglass reports of December 2 show $42.81M in short liquidation and $38.81M in long liquidations. With the higher short liquidation, people expecting the ripple token price drop would have lost money. Similarly, on December 3, 2024, the short liquidations stood at $44.15M, and long liquidations were  $42.09M, which resulted in many short liquidations closing. However, some traders who overleveraged with the dip also faced losses as the long liquidation increased. Interestingly, as the short liquidation outweighs the other in both situations per Coinglass charts, it hints at further bullish behavior. Overall, this could result in the Ripple price hitting $3. Additionally, the combined short liquidation for…

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Filed under: News - @ December 18, 2024 9:28 am