Crypto analyst Steph Is Crypto has shared insights on XRP's price structure and liquidity, indicating that barriers to growth for this cryptocurrency are largely absent when crossing the $5 mark.
Current Situation with XRP
The analyst released a liquidity chart from Coinglass showing that the liquidity structure beyond $5 is almost vacant. While previously there was considerable trading activity in the $2 to $4 range, this area now has significantly lower density. This implies that there are fewer expected sell orders at those higher levels.
What Lack of Barriers Means
According to liquidity analysis, there are no significant barriers above the $5 level that could hinder XRP's growth. The earlier resistance levels below this mark were caused by short position liquidations that have now cleared, leaving XRP freer for possible upward movement.
Forecasts and Future Expectations
Steph Is Crypto's remark about XRP having 'no walls' in this range highlights a broader optimistic sentiment among market watchers. If XRP can maintain and continue to receive support from volume increases, potential targets could lie ahead. However, it should be noted that some recent signals indicate mixed results.
In light of current trends and liquidity analysis, activity near the key $5 level could open up new opportunities for further growth of this cryptocurrency.
