XRP faces strong resistance at $2.22 while still holding above critical $2.08 support.
Over $481B in leverage remains at risk, increasing volatility potential.
The $2.02 level is viewed as a pivotal threshold for future price direction.
A recent shakeout in the XRP/USDT market has triggered partial liquidations, marking a critical phase for leveraged traders. According to the latest liquidation heatmap from Binance, a notable amount of leverage has been wiped from the market, though substantial risk still remains. Data indicates that approximately $481 billion in leverage is still active, leaving XRP’s price movements under heightened scrutiny.
https://twitter.com/Steph_iscrypto/status/1930872281036947830 XRP Tests Support at $2.08 Amid Ongoing Correction Phase
XRP is currently trading at $2.15 after experiencing a 2.2% decline over the last 24 hours. Despite the drop, analysts observe that the recent downturn appears to be part of a broader corrective movement rather than a complete reversal. The correction has brought the asset closer to its identified support level of $2.08, a zone where buy pressure has previously stabilized downward momentum.
In recent weeks, XRP has shown signs of both resilience and volatility, oscillating within a range that places the $2.22 mark as a strong resistance. This price level continues to act as a psychological and technical barrier. On the heatmap, liquidation clusters near this level suggest many short positions are likely to face pressure if the asset breaks through.
Leverage Builds Near Critical Price Zones
The Binance liquidation heatmap visualizes liquidation leverage concentrations along with trading behavior over the last three months. The heat intensity observed around the $2.08 zone highlights an area where multiple liquidations occurred during the recent price dip. This signals that traders using excessive leverage are at increased risk, particularly as XRP continues to hover in this sensitive price zone.
With over $481 billion in leverage still exposed, the market remains vulnerable to further liquidations. Analysts warn that this level of open leverage may amplify volatility in the event of sharp price swings. If support at $2.08 fails, it could trigger cascading liquidations, putting downward pressure on the asset. Conversely, a break above $2.22 would force short sellers to cover, potentially resulting in a sharp rally.
XRP Approaches Pivotal Resistance as Market Awaits Directional Breakout
Despite the current correction, XRP’s medium-term outlook hinges on its ability to decisively move past the $2.22 resistance. The $2.02 mark is also being observed closely as it represents a key structural level from past cycles. Traders see it as the "final boss" level that needs to be cleared for any meaningful uptrend continuation. A sustained move above this could reshape market sentiment and shift the leverage landscape significantly.
The XRP market is currently in a pivotal state. While the recent partial shakeout has reduced some risk, a large volume of leverage remains active, keeping volatility elevated. With critical price levels in play, the next few sessions may determine whether XRP stabilizes, breaks higher, or faces another liquidation-driven drop.
