XRP trades near $1.07, still pinned below a descending trendline that has held for months. A cluster of short liquidations sits above the $1.10-$1.12 resistance zone, so a break higher could force short covering, while losing $1.04 support risks a slide toward $0.93.
XRP traded near $1.07 on Thursday, still boxed below the descending trendline that has capped its price for months. The token has posted a string of lower highs since its pullback from the yearly peak, while buyers keep defending the $1.04-$1.05 support zone.
Traders are watching the $1.10 resistance closely, because a breakout there could shift sentiment and open the door to further upside. Losing nearby support, however, could send XRP into another leg lower.
Descending Triangle Keeps XRP Pinned Below $1.10
XRP continues to trade inside a descending triangle on the weekly chart, hovering around $1.07. The immediate resistance sits between $1.10 and $1.12, where the descending trendline meets a former support zone. A weekly close above that range could break the pattern of lower highs and open a path toward $1.20. A drop below $1.04, though, could expose the token to support near $0.93.
The RSI is hovering near 33, showing bearish momentum still dominates, though selling pressure has eased compared with earlier declines. The CMF also remains below the zero line, suggesting capital outflows still outweigh inflows even as the slide stabilizes. Together, the indicators point to fading bearish momentum, but not yet a confirmed reversal.
Liquidation Heatmap Points to a Short Squeeze Setup
Beyond the chart, XRP's derivatives data show a market waiting for a trigger. CoinGlass's liquidation heatmap shows a cluster of short positions stacked above the $1.10-$1.12 zone. If buyers push XRP above that level, forced short liquidations could add fuel to the rally and speed a move toward the next resistance levels.
On the other side, long liquidation pockets cluster around $1.04 and below, so a break under that support could trigger another round of forced selling. Meanwhile, open interest has stabilized after falling sharply from its earlier highs, suggesting leveraged positions have cooled even as traders gradually return to the market.
Bulls Eye $1.20, Bears Watch $0.93 and Below
A decisive breakout above $1.10-$1.12, backed by rising volume and open interest, could trigger a short squeeze and carry XRP toward $1.20 in the near term. A further strengthening in momentum could extend the rally toward $1.45. Failure to hold $1.04, though, could expose XRP to $0.93, and a deeper selloff could send the token back toward $0.75.
Source: Coinpedia Fintech News
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