After a remarkable 500% rally in 2024, XRP has entered a consolidation phase, sparking intense speculation. With the Ripple token hovering around $2.5, just shy of its all-time high (ATH), investors are eagerly anticipating its next move.
$XRP tumultuous past, marked by a prolonged SEC vs. Ripple battle, makes its current resurgence even more remarkable. Having achieved its ATH of $3.85 in January 2018, the token is now poised for a potential breakout.
A surge to $3 could trigger an unprecedented wave of short liquidations, with traders who have been waiting for this moment for years poised to reap heavy profits. However, those hoping for further gains will likely incur losses, as approximately $320 million worth of shorts would be liquidated.
