🟠 XRP Price Action: Leverage Cleansed, Network Activity Up, But $1.10 Hurdle Remains
XRP's open interest has been brutally flushed, wiping out the speculative froth from last year's peaks. This deleveraging event, while painful, clears the decks for a cleaner price action narrative. Network activity is ticking up, a positive signal for adoption and utility, but the price still needs to conquer the $1.10 resistance zone to signal a true bullish breakout 🚀. Until then, it's a battle for bulls to reclaim lost ground.
📊 A sustained break above $1.10 could trigger short covering and attract new capital, potentially leading to a 10-20% move in XRP over the next week. Failure to break resistance could see a retest of the $0.90 support.
Can XRP break $1.10 and sustain the rally, or is this just a dead cat bounce? 👇
#xrp #ripple #leverage #onchain
XRP's open interest has been brutally flushed, wiping out the speculative froth from last year's peaks. This deleveraging event, while painful, clears the decks for a cleaner price action narrative. Network activity is ticking up, a positive signal for adoption and utility, but the price still needs to conquer the $1.10 resistance zone to signal a true bullish breakout 🚀. Until then, it's a battle for bulls to reclaim lost ground.
📊 A sustained break above $1.10 could trigger short covering and attract new capital, potentially leading to a 10-20% move in XRP over the next week. Failure to break resistance could see a retest of the $0.90 support.
Can XRP break $1.10 and sustain the rally, or is this just a dead cat bounce? 👇
#xrp #ripple #leverage #onchain