XRP price has shown positive trends in recent days, but further long position liquidations may be on the horizon.
Recent XRP Liquidations
XRP price ended the last week on a bullish recovery trend, achieving five consecutive days in the green. However, this also brought increased risk of liquidations as expectations surged. In the last three days, over $8 million in long positions were liquidated.
Risk of Further Liquidations
Despite recent positive changes, persistent market issues may lead to new liquidations. Positive shifts in spot and derivative flows temporarily support the price, but a short-term profit focus may limit upside potential.
Whale Purchases and Market Impact
Whales acquired 150 million XRP over the weekend, potentially stimulating short-term buying and providing market liquidity. However, prospects for further growth will depend on upcoming economic data.
In the coming days, the XRP market may face challenges of long position liquidations. Future economic data and activity from major market participants will influence the ongoing developments.
