$XRP Market Update: Leverage Reset Shakes Out Weak Hands, Key Support in Focus
$XRP is trading near $1.35–$1.40, down roughly 20% from its August high of $1.70** after breaking below a symmetrical triangle pattern . The pullback triggered **$15.65 million in long liquidations, with open interest dropping over 15% as leveraged positions were flushed out .
Key Support: The $1.31–$1.35 zone is critical, reinforced by the 200-day moving average and a cluster of 2.29 billion tokens traded there . A break below could open the door to $1.17** . Resistance sits at **$1.38–$1.40**, with a breakout targeting **$1.60 .
Fundamental Backdrop: Despite the technical weakness, XRP spot ETFs continue attracting institutional capital—cumulative inflows now at $1.68 billion . Ripple's escrow releases are being absorbed without price collapse, signaling demand .
Binance Trade Setup: A cautious long only if $XRP reclaims $1.38** with volume, targeting **$1.50–$1.60**, stop below **$1.30. If $1.31 breaks, **stay flat** and wait for stabilization near **$1.17**. DYOR — leverage cuts both ways.
#xrp #Binance #crypto #analises
$XRP is trading near $1.35–$1.40, down roughly 20% from its August high of $1.70** after breaking below a symmetrical triangle pattern . The pullback triggered **$15.65 million in long liquidations, with open interest dropping over 15% as leveraged positions were flushed out .
Key Support: The $1.31–$1.35 zone is critical, reinforced by the 200-day moving average and a cluster of 2.29 billion tokens traded there . A break below could open the door to $1.17** . Resistance sits at **$1.38–$1.40**, with a breakout targeting **$1.60 .
Fundamental Backdrop: Despite the technical weakness, XRP spot ETFs continue attracting institutional capital—cumulative inflows now at $1.68 billion . Ripple's escrow releases are being absorbed without price collapse, signaling demand .
Binance Trade Setup: A cautious long only if $XRP reclaims $1.38** with volume, targeting **$1.50–$1.60**, stop below **$1.30. If $1.31 breaks, **stay flat** and wait for stabilization near **$1.17**. DYOR — leverage cuts both ways.
#xrp #Binance #crypto #analises