XRP has consolidated at $2.51, increasing by over 500% by 2024, which has caused a huge impact in the cryptocurrency market. Ripple’s re-approach to its all-time high of $3.85 is drawing investors’ attention. Despite years of legal battles with the SEC, XRP’s upward trend continues strongly.
If the XRP price exceeds $3, there could be significant liquidation in the markets. This could pose a major risk, especially for investors who keep their short positions open. According to Coinglass data, the liquidation potential is around $320 million in total. Such intense transactions can increase market volume and bring volatility.
This movement could gradually push the price of XRP upwards. In the short term, analysts are highlighting the $3.81 and $4.40 levels as new targets. Reaching these levels could lead to an increase in buying demand in the market. XRP’s technical outlook is becoming more positive as the price approaches the $3 level. Ripple’s new projects and technological innovations are helping the token gain momentum. Experts say that the $3.81 level is a critical resistance point for Ripple, and breaking this level could lead to new records.
The end of the legal process between Ripple and the SEC has further improved investor sentiment. Rumors that SEC Chairman Gary Gensler will step down and signs of recovery in the global economy are creating a very positive environment for XRP. These developments could create new opportunities in the cryptocurrency’s market outlook.
In line with all these developments, the increase in the price of XRP and its effects on the market are being carefully monitored. However, it is of great importance for investors to make strategic decisions by considering both technical analysis and macroeconomic factors.