The post XRP Price Crash Causes 1000% Liquidation Imbalance, Is Bullish Recovery to $3 Next? appeared on BitcoinEthereumNews.com.

Ripple (XRP) price slipped from a daily high of $2.24 to a daily low of $2.13 on May 1, as traders reacted to news around the failed acquisition of USDC stablecoin issuer Circle. This dip triggered a liquidation imbalance, as some traders with open long positions were forcefully closed, causing a surge in sell-side pressure. However, after this crash cleared key liquidation levels below the price, Ripple seems ready for a bullish recovery to $3. XRP Price in Focus Amid Liquidation Imbalance XRP value today stands at $2.23, as data from CoinMarketCap reveals that trading volumes have soared by 19% to $3.42 billion. After recovering above the $2.20 support level, traders are closely watching whether this altcoin could surge past $3. XRP/USDT: 4-Hour Chart This recent drop in XRP price caused a 1,000% liquidation imbalance according to analyst ALT4F. Data from Coinglass shows that in the last 24 hours, more than $14 million long positions on XRP were liquidated, marking the highest level in three weeks, while short liquidations came in at around $1.5 million. XRP Liquidations Analyst ALT4F noted that the high number of long liquidations indicates that more traders are opening long positions as they anticipate the XRP price may rally. While this long bias suggests that the bullish sentiment towards Ripple is strong, it may also have a negative impact. Per this analysis, if Ripple plunges below $2.15 under the current market conditions where leverage is notably high, it could trigger a cascade of long liquidations that will push the price further down, and possibly cause a breach of the $2 support level. XRP Liquidation Heatmap Hints Rally to $3 is Likely However, if XRP breaks out from its tight trading range and pushes above $2.30, then it is likely to avert the risk posed by long…

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Filed under: News - @ May 1, 2025 11:22 pm