XRP’s Next Move: Will $1.90 Hold or Short Positions Be Liquidated?

XRP’s Next Move: Will $1.90 Hold or Short Positions Be Liquidated?

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  • 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.

#XRP – Noise 🔇

1) TA Perspective: Just Noise
From a TA standpoint, all this Saga is simply noise! 📉 #XRP is currently retesting the December 10th low of $1.9, which could set up a double bottom formation.

2) Macro Range Behavior
This formation is part of a macro range,… pic.twitter.com/ejEoF3jQHb

— EGRAG CRYPTO (@egragcrypto) December 20, 2024

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

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