In 2024, the XRP price reached $2.51 with an increase of over 500%. This development draws attention as Ripple nears its all-time high of $3.85.
Large Liquidation Risks and Market Effects
If XRP reaches the $3 level, significant liquidations of short positions amounting to approximately $320 million may occur. This can increase market volatility, especially with intense trading activities.
Technical Analysis and XRP’s Future Potential
Analyses indicate that XRP may test higher levels following its consolidation phase. Levels $3.81, $4.40, and $4.98 are considered as new targets. This could increase buying pressure and lead to revisiting ATH levels.
Possible Changes in Market Dynamics
The reduction in uncertainties in the battle with the SEC and macroeconomic developments are positively influencing market sentiment. All these factors play a crucial role in shaping XRP’s price.
If XRP reaches $3, significant changes in market dynamics may occur. It's important to closely monitor market conditions to catch critical changes.
