Crypto, the realm of extreme alternations, is currently particularly polar for Ripple's XRP. Temperatures are falling, and with them, the hopes of many investors. According to the latest analyses, nearly $36 million in XRP could disappear in the twists and turns of liquidations. But the landscape is not entirely dark: certain signs suggest a light at the end of the tunnel.
The critical levels that threaten XRP
XRP price moves on a tightrope, oscillating between critical liquidation levels identified by Coinglass. If the price falls below $2.231, $35.97 million in long positions could be liquidated.
Conversely, a rise to $2.36 would put $67.63 million at stakea sign of an over-indebted and fragile market.
It seems that current leverage levels are like a house of cards: a breeze would be enough to topple everything. This observation illustrates a predominantly bearish sentiment.
Some striking figures on the current situation:
- 31% drop in XRP trading volume in 24 hours;
- A fall of 1.35% over the same period;
- A possible 5% correction could push XRP to $2.12.
If this bearish pressure persists, XRP could face massive liquidations. But a reversal of the trend remains possible, with the potential for a spectacular recovery.
Ripple's crypto projections: hope or illusion?
Technical analyses, combined with historical scenarios, draw a mixed picture. EgragCrypto proposed three ambitious projections :
- XRP at $12 in case of 1,264% increase;
- An optimistic target of $29 with a 3,600% increase;
- A conservative scenario at $5 with a 500% rise.
These predictions, although exciting, must be taken with caution.
“ It's not a question of faith, but of timing and analysis “, recalls EgragCrypto in a noted tweet.
For now, XRP is showing a bearish technical formationa pattern “ head and shoulders ”, which threatens to plunge prices. If the $2.24 key support gives way, the altcoin could experience a dizzying descent. However, a reversal remains possible, providing a window of action for savvy traders.
In short, last weekend, XRP electrified the crypto community, suggesting a rapprochement with Ethereum. Was it a fleeting illusion or a prelude to lasting ascension? Volatility alone holds the answer.
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