Mr. Amin

02/06 19:37

Traders heavily shorting XRP However, intraday tr

Traders heavily shorting XRP

However, intraday traders seem to be taking advantage of the current market sentiment as they are strongly shorting XRP tokens.

At press time, traders are significantly over-leveraged at the $2.50 level, where bulls hold $14 million worth of long positions, believing XRP won’t fall below this level. Meanwhile, short sellers are over-leveraged at the $2.85 level, holding $111 million worth of short positions.

This data indicates that short sellers are currently dominating the asset and could easily liquidate $14 million worth of long positions.

XRP Technical Analysis and Upcoming 

According to expert technical analysis, XRP has breached its crucial support level and appears likely to continue its price decline.

Based on recent price action and historical momentum, if XRP fails to hold the $2.55 level, there is a strong possibility it could drop by 25% to reach the $1.90 level in the coming days.

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