XRP has jumped 10% in the past 24 hours as a surge in trading volume sparks renewed bullish momentum.
A breakout above the $2.13 level and out of a key high-probability pattern supports a bullish XRP price prediction in the short term.
Trading volumes soared by 130% in just one day, with $7.8 billion in XRP changing hands, a figure that represents 5.5% of the token’s circulating market cap.
This spike signals aggressive buying interest and points to the possibility of a short squeeze unfolding.
According to CoinGlass, $438 million in XRP short positions were liquidated yesterday as crypto markets roared back to life.
Meanwhile, XRP’s climb pushed short liquidations to $24 million, the highest level on record since November 16 and the 6th highest short squeeze of the past 6 months.
Interestingly, XRP’s gains exceeded by a long shot those of other altcoins during this same period. At the time of writing, Ethereum (ETH), Solana (SOL), and BNB Coin (BNB) have booked 1.7%, 1.7%, and 0.9% price increases, respectively.
XRP Price Prediction: Positive Momentum Accelerates as XRP Books 6-Day Winning Streak
Strong inflows toward XRP-linked exchange-traded funds (ETFs) may have played a key role in shaping the token’s latest price action.
Source: TradingViewData from SoSoValue shows that the total assets managed by these vehicles have surged from $861 million to $1.2 million in just a month, while XRP ETFs have not yet booked their first day of positive net outflows since the first fund was launched in the United States.
The daily chart shows that XRP has been rising for 6 days in a row now and has broken out of a bullish falling wedge pattern.
The Relative Strength Index (RSI) is already entering overbought territory after this strong spike, reflecting growing positive momentum.
A move to $3 seems highly likely as long as the price can stay above the 200-day exponential moving average (EMA).
As altcoins begin to recover, top crypto presales like Bitcoin Hyper ($HYPER) will benefit from this trend. This project leverages the power of the Solana blockchain to launch the first real Bitcoin L2.
Bitcoin Hyper ($HYPER) Raises Over $30M to Kickstart a New Era for BTCFi
Bitcoin Hyper ($HYPER) brings Solana’s low fees and fast transaction settlement speeds to the Bitcoin ecosystem through its highly efficient layer-2 scaling solution.
BTC holders will now be able to access top DeFi applications to earn yield, stake, and lend their tokens safely and cheaply.
Developers can easily deploy these dApps and no longer have to force investors to move their BTC tokens out of the Bitcoin OG blockchains to access them.
As top wallets and exchanges embrace the solution, the price of its native asset, $HYPER, should rise rapidly. With $30 million in its war chest already, the Hyper L2 is rapidly moving forward with its ambitious roadmap.
To buy $HYPER, simply head to the official Bitcoin Hyper website and link up a compatible wallet (e.g. Best Wallet).
You can either swap USDT or SOL for this token or use a bank to complete your purchase.
Visit the Official Bitcoin Hyper Website HereThe post XRP Price Prediction: ETFs Keep Buying as XRP Breaks $2.13 – Is the Next Stop a New All-Time High? appeared first on Cryptonews.
