XRP Price Prediction for February 14
After a continuous price drop, XRP is about to break out from its long consolidation phase (a key resistance area). The key reason for this bullish outlook is the rebound in the price in the cryptocurrency market.
XRP’s price power
As market sentiment changes, XRP’s price has soared 2.50% in the past 24 hours, and is currently trading close to $2.51. This surge in price puts the asset near the upper boundary of its merger zone at $2.54.
If market sentiment remains the same, it is very likely that XRP may violate this extended barrier and increase the rate by 30% to $3.32.
XRP key level and over-leverage position
Looking at the bullish outlook, it has maintained an important open position for the past 24 hours and a longer position on XRP.
Data display and Long position The highly leveraged price is $2.386, where they built a long position worth $65 million. Meanwhile, $2.533 is another key level, where traders at this level are over-leveraged and currently hold $20 million worth of Short position.
From the current XRP price relative to liquidation levels, it seems that over-leveraged positions worth $20 million are at risk of liquidation because the price is close to $2.533. If this level is cleared, it is very likely that XRP will easily reach its predicted level due to the short trader’s small bet.
