If XRP can recover above $2.58, it may break its all-time high.
According to data from Coinglass, over the past 24 hours, XRP triggered a total liquidation amount of over $86 million, surpassing Bitcoin. The current price is testing the critical $2.58 level, which is a key position in the rectangular channel. Liquidated long and short positions amount to $41.74 million and $44.91 million, respectively.
To drive the price further up, XRP needs to first establish support at $2.58 before it can move towards the upper boundary of the rectangular channel at $3.57, which would set the stage for a potential all-time high.
At the same time, the Relative Strength Index (RSI) has been maintaining itself in the overbought zone, indicating that the risk of a price correction may be accumulating.
