#ReboundRally $XRP
Key Details:
Liquidation Price: $2.322
Liquidated Amount: $120K
Market Sentiment: Strong bullish momentum
What’s Happening?
The liquidation underscores a possible short squeeze, with bears forced to cover their positions, adding fuel to the rally.
$XRP is now eyeing a critical psychological barrier at $2.35, which could open the door to further upside if broken.
What’s Next?
1. For long traders:
Hold your positions but use trailing stops to secure profits.
Watch for a breakout above $2.35 to confirm continued bullish momentum.
2. For short sellers:
Avoid entering until clear rejection occurs at $2.35-$2.40.
Wait for potential retracement near $2.30 or below before considering reentry.
3. For new players:
Look for entries above $2.35 for confirmation of strength.
Alternatively, wait for a pullback near $2.30-$2.25 to minimize risk.