The post XRP surges to 2021 highs: Time to watch for a $1.20 entry point? appeared on BitcoinEthereumNews.com.

XRP’s slippage hit its highest levels as price continued to surge. Crypto liquidity flowing into XRP as liquidation zones form above price.  XRP witnessed new highs as exchanges’ spot slippage surged, marking a pivotal moment for traders interested in the altcoin. With the highest slippage occurring alongside these peaks, caution was advised. The recent spike in trading activity suggested increased market volatility, which could offer opportunities but also poses significant risk. As XRP approached its 2021 high, the risk increased for those looking to go long. Source: Hyblock Capital Traders need to monitor for potential pullback levels to consider entering, especially if XRP sustains near these highs. XRP potential entry zone XRP has surged over 230% in two weeks, wiping away three years of downturn, a demonstration of the power of precise timing in the broader altcoin market. The rapid ascent, with scarcely any retracements, highlighted the critical importance of strategic entry and exit points in cryptocurrency trading. Particularly for XRP, the frenzy has not cooled, suggesting that current levels might not be ideal for new long positions. Source: TradingView Analysts pinpointed the $1 to $1.20 range as a more opportune entry point, advising traders to hold off for a potential pullback to these levels. This vigilance in timing could be crucial for maximizing returns and managing risks in the volatile altcoin market. Such movements highlighted the dynamic nature of cryptocurrency valuations, where the informed and timely can capitalize on rapid shifts. Liquidation levels and crypto liquidity flow XRP’s most crucial liquidity thresholds were, notably, $3.6 million in leveraged orders hinged on the $1.6 price point, while a more substantial $4.6 million batch awaited at $1.52. Such dense liquidation levels typically signal potential reversal zones as prices approach. These key areas, having just formed below the current trading price, might catalyze…

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Filed under: News - @ November 24, 2024 11:01 pm