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by Arslan Tabish
- Ripple’s XRP price movements are crucial, with a potential $2.62 rebound possibly triggering a $20.5M short position liquidation.
- Analysts view XRP’s current fluctuations as “noise,” with a potential double-bottom formation at the $1.90 level signaling a bullish reversal.
- XRP’s trading range mirrors past cycles, moving between $2.00–$2.26, showing no major deviations despite market shifts.
Ripple (XRP) is in a crucial position in the cryptocurrency market, and experts are following its price and possible large fluctuations. Crypto analyst Ali Martinez pointed out in an X post that a potential bounce back to $2.62 could force the liquidation of short positions worth $20.5 million
Egrag Crypto offered more analysis of the price of token. From technical perspective, the current oscillations in XRP value are described as “noise” He also noted that the price of token is now trading back towards the December 10th low of $1.90, which is a level that could lead to a double bottom. This pattern is a classic example of a bullish pattern which indicates that the price may be about to reverse its trend.
XRP’s Historical Price Range
The analysis also focused on the macro-range behavior of coin and compared it to the current activity. In the previous cycles, XRP had its trading range from $0.50 to $1.00. At the time of writing, Ripple token is moving between $2.00 and $2.26, which has similar action at higher price zones. This shows that there are no significant deviation from the historical behavior of coin despite the changes in market trends.
The collapse below the $1.90 support level was however downplayed by analysts arguing that a breach of the level in the lower time frames will not warrant much concern. These are but norma