Hold Your Horses: XRP’s Price May Trigger $400M Liquidations – But Not Yet!

by

Well, well, well, XRP is having a bit of a rough time lately, ain’t it? The poor thing just can’t seem to hold on to any gains. Every time it tries to rally, it gets slapped back down. Despite all its efforts, it just can’t manage to break through that pesky $2.32 ceiling, so here we are, stuck at a humble $2.00. Somebody send this altcoin a bouquet, it could use the support. 🌹

Now, for those poor souls who jumped on the XRP bandwagon during its three-week bull run—surprise! They’re sitting in the red after that failed attempt to break through the big barriers. They must feel like they were sold a dream that turned into a nightmare. Yikes.

XRP Holders Are Facing Some Awfully Big Challenges

According to the liquidation map—because who doesn’t love a good liquidation map, right?—there’s a whopping $400 million worth of short positions at risk if XRP’s price ever dares to hit $2.32. But hold on, folks! Even though XRP is trading at $2.15, which is just 8% away from that magic number, it doesn’t look like anyone’s losing sleep over it yet. No liquidations in sight. 😴

It seems like the good folks holding XRP are more interested in selling than HODLing these days. Talk about a mood swing. Looks like they’ve had enough of waiting for a moonshot, and now they’re just trying to get out with as few bruises as possible.

On top of that, XRP’s momentum is slowly but surely evaporating, just like a puddle on a hot day. The Realized Profit/Loss ratio is showing a downward trend, meaning the folks who bought in during the November 2024 bull run are now holding a bag of losses. And it’s a heavy bag. 💼

Back in January, XRP made a nice little jump, but ever since then, it’s been more of a “downward dog” than anything else. Investors who bought at higher levels are now rushing to sell, trying to salvage what little dignity they have left. This constant selling pressure is making it nearly impossible for XRP to catch any upward wind.

Is XRP Finally Ready to Break Out? (Spoiler: Probably Not)

As of now, XRP is cruising at $2.15, just below the local resistance level of $2.16. Remember when it failed to hold that level as support earlier this month? Yeah, good times. The coin is currently stuck beneath $2.27, which has been a tough nut to crack since late March. If it can hold steady above $2.00, we might see some stabilization. But let’s not get too excited—stabilization is just a fancy word for “nothing spectacular.” 😬

Given the current lack of big, juicy catalysts, the price is likely to just bumble along within this range. Nothing to see here folks, move along. The market’s gonna stay pretty quiet as everyone waits for some sign from the heavens—or at least from a really loud Twitter post—about the next big move. 📉

However, should XRP finally smash through that $2.27 resistance and head towards $2.40, well now, that could trigger a buying frenzy, and suddenly all that $400 million in liquidations would look like it was worth it after all. We might just see a new wave of optimism in the market, and who knows? The sentiment could flip faster than you can say “bull run!”

Read More

2025-04-15 18:05