According to the data from the on-chain analytic firm CryptoQuant, #XRP’s exchange reserve was at its lowest level, which potentially supported this bullish outlook.
A decline in exchange reserves or a lower level indicated that investors or whales were accumulating tokens from the exchanges, leading to a continuous decrease in reserves.
Additionally, CryptoQuant’s XRP exchange inflow was comparatively lower than on other days, indicating a buying opportunity.
Currently, the major liquidation levels are near $0.555 on the lower side and $0.59 on the upper side, as traders are over-leveraged at these levels, according to the CoinGlass data.
If the market sentiment changes and the XRP price rises to the $0.59 level, nearly $6.8 million worth of short positions will be liquidated.
$XRP

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