$XRP On March 3, 2025, a significant short position worth $160,500 was liquidated on Binance at an XRP price of $2.68. This event highlights the strong bullish momentum in XRP's market.
Current Market Overview
As of March 5, 2025, XRP is trading at approximately $2.46, reflecting a slight increase of 0.04681% from the previous close. The cryptocurrency has experienced an intraday high of $2.53 and a low of $2.23.
Key Trading Levels
Buy Zone (Entry Points):
Aggressive Entry: $2.50 - $2.56
Conservative Entry: $2.29 - $2.50
Deep Correction Entry: $2.10 - $2.29
Target Levels (Take Profit):
First Target: $2.60
Second Target: $2.65
Third Target: $2.72
Stop-Loss (Risk Management):
Short-Term Stop-Loss: Below $2.45
Conservative Stop-Loss: Below $2.29
Deep Stop-Loss: Below $2.10
Market Sentiment & Strategy
Bullish Indicators:
The liquidation of a substantial short position suggests strong upward momentum.
Analysts have identified key levels that could confirm a strong breakout if XRP successfully closes above them, with targets at $2.62, $2.75, $2.94, $3.22, and $3.40.
Bearish Risks:
A decline in Bitcoin's price could lead to a broader market correction, affecting XRP.
If XRP loses support at $2.29 it might retest lower levels.
