If XRP can recover above $2.58, it could break through its all-time high.
According to Coinglass, XRP has triggered more than $86 million in total liquidations in the past 24 hours, surpassing Bitcoin. The current price is testing the key $2.58 level, which is at the key position of the rectangular channel. The long and short positions liquidated are $41.74 million and $44.91 million, respectively.
To drive the price further up, XRP needs to first hold the $2.58 support level before it can move towards the upper boundary of the rectangular channel at $3.57, which is expected to set a new all-time high.
Meanwhile, the relative strength index (RSI) has remained in the overbought area, suggesting that the risk of price correction may be accumulating.
