Long

bullish

when

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<p><a href="https://u.today/shiba-inu-shib-is-this-unbreakable-ethereum-eth-one-drive-to-3000-xrps-2-foundation-is-safe-now" rel="noopener noreferrer nofollow">XRP</a> is gaining momentum in the cryptocurrency market again, as the price rose from $2.12 to a peak at $2.18 in the last 24 hours. This slight spike in price has triggered a liquidation imbalance in the XRP futures market, as short traders have lost their positions.</p>
<h2 id="short-traders-suffer-as-xrp-price-surges">Short traders suffer as XRP price surges</h2>
<p><a href="https://www.coinglass.com/LiquidationData" rel="noopener noreferrer nofollow">CoinGlass data</a> shows that in the last hour, short position traders saw $151,020 wiped out as the price gain occurred on XRP. These investors were not betting on an XRP recovery and were stunned when prices began to rise.</p>
<p>Long traders only registered a loss of $8,060 within the same time frame. This suggests that few investors in the XRP space expected the asset’s consolidation phase to linger for a little bit longer.</p>
<p>However, XRP is preparing to retest the $2.30 zone again if the ecosystem bulls can support this move. As of press time, investors had toned down their engagement as trading volume had declined by 42.78% to $2.51 billion.</p>
<p>Meanwhile, the price remains up by 1.79%, and the exchange is at $2.17, according to <a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">CoinMarketCap data</a>.</p>
<p>If XRP market participants resume heavy transactions due to the price recovery, the coin will likely move toward the $2.30 resistance level.</p>
<h2 id="xrp-200-day-ma-and-wallet-growth-flash-bullish">XRP 200-day MA and wallet growth flash bullish</h2>
<p>As per a recent <a href="https://u.today/xrp-can-skyrocket-from-here-despite-drop" rel="noopener noreferrer nofollow">U.Today report</a>, XRP has the potential to leap from this price zone to higher levels as the asset is now at the 200-day moving average. Notably, this is an excellent support zone for the coin, and a rebound remains possible.</p>
<p>With the XRP network rapidly expanding as signaled by the <a href="https://u.today/9000-new-xrp-wallets-added-in-48-hours" rel="noopener noreferrer nofollow">9,000 new wallets</a> within two days, it raises optimism for further growth. The spike in new addresses suggests potential for more liquidity and increased adoption.</p>
<p>XRP futures traders should watch the price trajectory before betting on the asset after this recent shift.</p> <a href="https://u.today/xrp-records-insane-1773-liquidation-imbalance-in-1-hour" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

XRP Records Insane 1,773% Liquidation Imbalance in 1 Hour

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