The post XRP Rockets to $2.09 as Breakout Signals $3.50 Target – Can Bulls Hold the Line? appeared on BitcoinEthereumNews.com.

XRP has taken the crypto community by storm with a stunning price surge, up to $2.09 at the time of writing, an increase of 2.59% from yesterday. This surge comes against a backdrop of 24-hour trading volume that has dropped 28.97% to $4.9 billion, which may suggest that the trading dynamics are shifting. Similarly, the market cap is down 2.71% to $122.28 billion, leaving questions over whether this movement is sustainable. Source: Coinmarketcap Is XRP on the verge of a breakout or a retreat? On the daily timeframe, XRP is presently priced at $2.2889, with exponential moving averages at 20, 50, 100 and 200 days in the range of $1.9480 – $2.3377. Positioning in this range indicates a strong uptrend. The price recently also broke out of a descending triangle pattern, a bullish indication, targeting $3.500 on the chart. However, the MACD indicator is showing a bearish crossover, with values at -0.0241, -0.0619 and -0.0860, which indicates short-term selling pressure. The price is still well above notable support at $1.9480, and if it remains above $2.3377, XRP is likely headed toward the $3 – $3.500 mark. On the other hand, if the price goes below $2.2885, we may see a correction that could fall down to $2.0995 or below. Source: TradingView Liquidation Heat: Are Traders Overleveraged? Based on liquidation data, traders are definitely overleveraged since price movement and liquidation activity start seeing a large uptick. Short liquidations measured in red peaked out in late 2024, while in early 2025, long liquidations measured in green reached a hand-shaking 42.504 million XRP on January 9, 2025, in comparison. The long liquidations increased after the pricing peaked at $2.75, which likely means overleveraged bullish positions were forced out of the market. The liquidated positions likely contributed to the recent price decline to $2.09,…

---

Filed under: News - @ April 4, 2025 4:29 pm