Will XRP Crash to $1.90? $111 Million Shorts Dominate
The encryption whale seems to be returning to the market, the purpose is to accumulate the market as much as possible. Recently, the chain analysis company Coinglass revealed that whales and long -term holders XRPRipple Labs’s local token.
XRP, worth $ 155 million
data It was revealed that the exchange witnessed the $ 155 million XRP token. This large outflow is a obvious sign of accumulation and implies potential purchase opportunities.
A chain analysis company witnessed this potential accumulation because the alternative currency has experienced more than 16 % in the past 24 hours. With this significant decline, XRP’s current transaction price is close to $ 2.50, and it has attracted the impressive participation of traders and investors, leading to an increase of 210 % of its transaction volume.
A large number of short -circuit XRPs of traders
However, traders in the market seem to be using their current market emotions because they strongly shorten the XRP token.
At the time of press release, traders were significantly over -leveraged at a level of $ 2.50. The Bulls held a long position worth $ 14 million and believed that XRP would not be lower than this level. At the same time, the short -selling of the short -selling person holds a short position worth $ 111 million at a height of $ 2.85.
The data shows that short -selling assets are currently dominated by assets, and it is easy to liquidate long positions worth $ 14 million.
XRP technical analysis and the upcoming
According to expert technical analysis, XRP violates its key support level and may continue to decline.
According to the recent price action and historical momentum, if XRP cannot maintain a level of $ 2.55, it is likely to decrease by 25 % in the next few days to reach $ 1.90.
