XRP rebounds 19%, should bears be cautious?
XRP has strongly rebounded nearly 19% from its low, successfully breaking through the key resistance level of $3.19 and is testing a new upward channel!
Data highlights:
Whales transferred 20 million XRP
A net outflow of 29.38 million XRP indicates that holders prefer long-term positions
Current short positions far exceed the risk of a short squeeze!
Technical analysis unlocked:
XRP is breaking through the top of a descending wedge, a structure that usually indicates a bullish breakout
If it can hold above $3.19, the next target looks towards $3.40 or even higher
Key support: Holding above $3.00 is bullish
My view:
Market momentum is building, whales are positioning, bears shouldn't be too comfortable!
If XRP breaks above $3.45, it could be the starting point of FOMO
What do you think? Can XRP challenge $4? Feel free to discuss your strategy in the comments!
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