Massive $XRP Long Liquidation Alert.
XRP traders, buckle up! A whopping $2,521.9 worth of long positions just got liquidated at the crucial level of $2.3956.
What does this mean.
This liquidation indicates that bullish traders had their positions forcefully closed as $XRP price slipped below their margin limits. This can often trigger further volatility, as cascading liquidations create downward pressure.
Key Observations:
$2.3945 could act as a resistance level moving forward since it was a significant liquidation point.
The current market structure might see a shakeup, with bears gaining temporary control.
Traders, what now.
If you're bullish, watch for recovery signs and aim to re-enter above $2.40 with a solid risk management plan.
If you're bearish, monitor whether the price consolidates below $2.39 for potential further downside.
Stay sharp; the crypto market never sleeps.