Usman Salis
XRP (Ripple) just pulled off one hell of a move that left short traders bleeding hard. The crypto smashed through resistance and triggered a massive 1,773% liquidation imbalance in just one hour, proving once again why betting against crypto can be a dangerous game.
Short Sellers Get Wrecked as XRP (Ripple) Makes Its Move
Holy smokes - the carnage was real. XRP's jump from $2.12 to $2.18 might not look like much on paper, but it was enough to absolutely wreck short position traders who got caught with their pants down. These poor souls watched $151,020 vanish into thin air within a single hour.
Meanwhile, the smart money on the long side barely felt a scratch - they only lost $8,060 during the same period. Talk about a lopsided beatdown! This tells us that most traders were expecting XRP to keep crabbing sideways, but the market had other plans. When crypto decides to move, it doesn't ask for permission.
XRP (Ripple) Eyes That Sweet $2.30 Level Next
Here's where things get interesting. Even though XRP pulled off this killer move, trading volume actually dropped by 42.78% to $2.51 billion. Seems like everyone's taking a breather after that liquidation massacre. But don't let that fool you - XRP is still up 1.79% and sitting pretty at $2.17.
If the bulls can get their act together and start pushing volume again, we could see XRP make a serious run at that $2.30 resistance level. That's been a tough nut to crack, but with momentum building, it might just happen this time around.
The Technical Picture Actually Looks Pretty Damn Good
What's really got traders excited is where XRP is sitting right now. The coin just hit its 200-day moving average, and anyone who's been in this game long enough knows that's usually solid support territory. It's like XRP found its footing and is ready to launch from here.
But wait, there's more good news. The XRP network has been absolutely crushing it lately with about 9,000 new wallets popping up in just two days. That's some serious growth right there, and it shows people are actually using this thing, not just trading it.
All this new blood coming into the ecosystem means more liquidity and potentially bigger moves ahead. For futures traders who just watched their short-selling buddies get liquidated, this might be a good time to step back and reassess before jumping back in. Because if there's one thing we learned today, it's that XRP can still surprise the hell out of everyone when you least expect it.
Usman Salis
