XRP Price Rally Sparks $4M Liquidations as Traders Eye Critical Breakout

XRP Price Surge Triggers Massive Shake-Up Across Futures Markets

In a turbulent 24 hours, XRP’s recent surge has wiped out over $4 million in liquidations, sending shockwaves across the crypto futures market.

Data from CoinGlass XRP reveals that total liquidations hit $4.08 million after XRP shattered a crucial resistance barrier. Surprisingly, long position traders bore the heaviest losses, with $2.60 million erased from those betting on continued gains.

Short sellers fared slightly better but still suffered $1.49 million in losses as XRP’s price kept climbing. A striking 69% imbalance between liquidations shows that bullish traders were disproportionately hit during the sudden market correction.

XRP Price Action: Volatility Remains High as $2.22 Level Breached

The spike above $2.22 during trading hours unleashed intense volatility, leaving many traders blindsided. Mass exits from trading platforms were recorded as investors scrambled to react to XRP’s sharp movement.

Despite the liquidations, the sheer volume of affected long positions suggests that bullish sentiment toward XRP remains intact. Many market watchers predict further price elevation, fueled by growing optimism over regulatory developments with the U.S. Securities and Exchange Commission.

Related Read: XRP’s Next Chapter: Bank Adoption to End XRP Wild Price Swings, Expert Explains

Golden Cross on the Horizon: XRP’s Major Breakout Looms

Adding fuel to the fire, technical analysts highlight that XRP is nearing a golden cross formation — a powerful signal often preceding strong market rallies.

XRP currently trades at $2.20, reflecting a modest 2.08% daily increase. However, trading volume dipped 17.54%, falling to $3.23 billion, signaling some caution among market participants.

If bullish momentum holds, analysts say XRP could soon test the critical $2.50 resistance. A successful breach of this level would significantly boost the case for a sustained breakout.

Conversely, technical indicators warn that a failure to maintain buying pressure could drive XRP’s price back below $2, exposing traders to further market instability.

XRP’s Path Ahead: High Risks, High Rewards

The recent correction underlines one thing clearly: while sentiment around XRP is overwhelmingly bullish, market volatility is still king. Traders navigating XRP’s next moves must brace for rapid swings as the token flirts with major support and resistance levels in the days ahead.

Quick Highlights: Why XRP Traders Are on Edge

• Over $4M liquidated in 24 hours following XRP’s price surge.

• Long traders hit hardest, losing $2.6M.

• XRP crosses $2.22, triggering mass platform exits.

• Golden cross formation hints at major rally ahead.

• Eyes now on $2.50 resistance level for the next big move.