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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