After a continuous drop, XRP is about to get out of the long standardization stage, which is a major resistance area. The main reason for this upscale expectation is the recovery of the price through the cryptocurrency market.
XRP price momentum
With the transformation of the market morale, the XRP price increased by 2.50 % over the past 24 hours and is currently being traded near the level of $ 2.51. The price increase led this asset near the upper limits of its unification zone at $ 2.54.
If the market morale remains unchanged, there is a strong possibility that XRP will violate this lengthy obstacle and rise by 30 % to reach a level of $ 3.32.
XRP key levels and excessive positions
Looking at the upcoming expectations, traders inside the day who occupy long positions are strongly dominating XRP, as they have maintained large open sites over the past 24 hours.
Data show that merchants are with Long situations It is excessive to be overshadowed by $ 2.386, as they built long sites worth $ 65 million. Meanwhile, $ 2.533 is another major level where merchants who have short situations are excessive, currently holding $ 20 million in short positions.
Given the current XRP price regarding the level of filtering, it seems that the positions worth $ 20 million are at risk of liquidation, as the price approaches the level of $ 2.533. If this level is filtered, there is a strong possibility that XRP easily reach its expected level due to simple bets by short merchants.
