$XRP just pulled off a major market surprise that has the crypto community buzzing.
In a dramatic twist earlier today (July 7), XRP’s price surged past $2.25, triggering a massive short squeeze. According to Coinglass data, this quick reversal led to $288K in total liquidations—but here’s the kicker: almost all of it came from short positions.
🔻 Shorts lost a whopping $283K
✅ Longs? Barely touched, with only $4.8K liquidated
That’s a 5,744% liquidation imbalance—a clear sign that bearish traders were completely blindsided by XRP’s sudden bounce.
Bull Trap or Breakout Incoming? 🧠
Some traders are playing it cautious, warning this could be a classic bull trap—a fake rally that lures in optimistic buyers before price dumps again. But not everyone’s buying that narrative…
Top analyst @Ali_Charts is seeing something interesting: an inverse head-and-shoulders pattern forming on the charts. If this pattern plays out, $XRP could be setting up for a breakout run toward $2.60.
💬 “Still too early to call the move, but the setup is there,” Ali shared on X (formerly Twitter).
With XRP holding strong and bulls gaining momentum, all eyes are now on its next move. Will we see that breakout? Or are the bears just waiting to strike back?
📊 Whatever happens, this kind of price action proves one thing: never sleep on $XRP