- XRP hits $3.65 ATH as bullish momentum lifts market cap to $209.75 billion
- RSI warns of short-term pullback despite strong MACD and heavy trading volume
- Short liquidations dominate, giving bulls firm control over XRP’s price direction
Ripple’s XRP has captured market attention after reaching a new all-time high (ATH) of $3.65 following a strong rally. This sharp upward move, fueled by intensified trading activity, saw XRP jump 16.6% within a single day.
Although the price slightly pulled back to $3.53, bullish sentiment remains intact. The broader market is now speculating on whether XRP can continue its breakout or if another top coin will soon steal the spotlight.
XRP’s rapid rise signals renewed investor interest, pushing its market cap to $209.75 billion. Trading volume surged above $20 billion in just 24 hours, highlighting exceptional liquidity and strong demand.
XRP’s circulating supply sits around 59.18 billion, with a total max supply of 100 billion coins. These dynamics set the stage for heightened volatility as buyers and sellers battle around key price levels.
Strong Technical Momentum and Key Price Zones
XRP’s 24-hour trading chart paints a picture of determined buyers stepping in early. The price began near $3.14, found early support, and then rallied sharply. It reached a peak of $3.65 before retracing modestly to $3.53. This price action suggests a potential consolidation phase before the next move.
Source: Coingecko
Immediate resistance remains at $3.65. A successful breakout above this level may trigger a fresh rally with new ATH targets. Meanwhile, support zones are forming at $3.30 and $3.14. These levels could cushion any potential pullbacks and allow bulls to regroup.
XRP/USD daily price chart, Source: TradingView
The MACD (Moving Average Convergence Divergence) indicator confirms bullish momentum. With the MACD line at 0.28501 and signal at 0.17305, the histogram reading of 0.11196 supports the upward drive.
However, the RSI (Relative Strength Index) at 88.83 indicates the coin is currently overbought. This reading implies the risk of a short-term correction as some traders may take profits.
Liquidation Data Signals Market Shift
Liquidation activity over the past 24 hours further underscores market volatility. A total of $86.4 million in liquidations occurred, overwhelmingly from perpetual contracts.
Source: Coinanalyze
Short positions accounted for $63.5 million of this figure, while long positions saw $22.9 million liquidated. Binance and Bybit led with over $40 million in activity each, dwarfing volumes on other exchanges.
These figures highlight a critical trend. Short sellers were caught off guard by XRP’s sudden rally, adding to upward pressure. With short liquidations dominating, bulls currently hold the advantage.
