What an absolute banger of a day! If you were watching the charts over the last few hours, you just witnessed one of the cleanest short squeezes of the month. XRP is back with massive green candles, currently trading around $1.47 - $1.49, up over 7% today!
$BTC just smashed through the $84,000 resistance level, forcing exchanges to instantly buy back over $300 Million worth of losing short positions in just one hour! $XRP had a massive pile of crowded shorts since Sept 11, and this sudden move triggered a violent cascading squeeze, sending the price flying.
Ripple Enters African Banking Group
On the fundamental side, Ripple just officially confirmed a massive partnership with Absa Corporate and Investment Banking (one of Africa’s largest banks with over 2.07 Trillion ZAR / $119.5B in assets). Absa is launching a Digital Asset Custody platform completely powered by Ripple’s custody technology to store and manage Bitcoin, XRP, and tokenized real-world assets. This is institutional adoption at its finest!
On-chain data reveals that large XRP whales have aggressively accumulated roughly 1.54 Billion tokens (~$2.2 Billion) over the last 96 hours alone! Combined with 10 consecutive weeks of positive Spot XRP ETF inflows, the institutional demand is refusing to die down despite last week's Senate drama.
XRP is heavily testing the critical resistance zone between $1.49 and $1.54.
If we get a clean daily close above $1.50, the path to $1.64 and a psychological retest of $2.00 is wide open.
If the squeeze loses steam here, a close below $1.41 signals that the pump is spent, and we might consolidate back to the $1.30 - $1.35 support zone.
Did you catch this pump, or were you caught on the wrong side of the squeeze? Drop your current targets below! 👇
#SpotTrading.
$BTC just smashed through the $84,000 resistance level, forcing exchanges to instantly buy back over $300 Million worth of losing short positions in just one hour! $XRP had a massive pile of crowded shorts since Sept 11, and this sudden move triggered a violent cascading squeeze, sending the price flying.
Ripple Enters African Banking Group
On the fundamental side, Ripple just officially confirmed a massive partnership with Absa Corporate and Investment Banking (one of Africa’s largest banks with over 2.07 Trillion ZAR / $119.5B in assets). Absa is launching a Digital Asset Custody platform completely powered by Ripple’s custody technology to store and manage Bitcoin, XRP, and tokenized real-world assets. This is institutional adoption at its finest!
On-chain data reveals that large XRP whales have aggressively accumulated roughly 1.54 Billion tokens (~$2.2 Billion) over the last 96 hours alone! Combined with 10 consecutive weeks of positive Spot XRP ETF inflows, the institutional demand is refusing to die down despite last week's Senate drama.
XRP is heavily testing the critical resistance zone between $1.49 and $1.54.
If we get a clean daily close above $1.50, the path to $1.64 and a psychological retest of $2.00 is wide open.
If the squeeze loses steam here, a close below $1.41 signals that the pump is spent, and we might consolidate back to the $1.30 - $1.35 support zone.
Did you catch this pump, or were you caught on the wrong side of the squeeze? Drop your current targets below! 👇
#SpotTrading.