XRP soars 24% in 24 hours, approaching ATH – Will it break the record?
The post XRP soars 24% in 24 hours, approaching ATH – Will it break the record? appeared on BitcoinEthereumNews.com.
XRP recently broke past the $1.40 mark, a level it hasn’t reached in over three years. Market indicators and metrics remain predominantly bullish, although the potential for a short-term pullback cannot be ruled out. Over the last month, XRP has experienced explosive growth, surging by 165%. This momentum continues, with the token gaining an additional 24% in the past 24 hours. If the upward trend persists, XRP could soon surpass its all-time high. To explore the token’s next potential move, AMBCrypto analyzed key market metrics and trends. XRP closing in on all-time record XRP has reached $1.4332 at the time of writing, a level not seen since September, 2021, reflecting renewed interest and strong market demand. The token is now just $0.5337 shy of its all-time high of $1.9669. If the current buying momentum continues, XRP could soon break past this record. However, a slowdown in momentum could trigger a pullback to a key support level at 0.9361, as identified on the chart. Source: Trading View Market metrics remain overwhelmingly bullish, which signals a strong probability of XRP pushing toward its all-time high in the near future. XRP open interest hits all-time high The Ripple token’s Open Interest has reached a record-breaking $2.47 billion, marking its highest level since inception, according to Coinglass. This milestone follows a 32.41% surge in Open Interest over the past 24 hours, reflecting heightened market activity and demand. Open Interest, which measures the number of unsettled derivative contracts on an asset, is a key indicator of market sentiment. In this case, the soaring levels of XRP Open Interest signal strong bullish momentum. Source: Coinglass The surge is further reinforced by a wave of short liquidations. Over the last 24 hours, short positions worth $14.51 million were forcefully closed outpacing long liquidations. This liquidation cascade was…
Filed under: News - @ November 23, 2024 2:14 am