- XRP trades at $2.82, consolidating between $2.77 support and $2.86 resistance.
- Liquidation data shows strong long exposure, but sharp corrections triggered heavy losses above $3.00.
- Price remains range-bound, with a broader target highlighted at $5.42.
XRP continues to constrict below a pivotal resistance level and show strength at its established support. The currency was trading at $2.82, up 0.7% over 24 hours. Trading has been limited, with resistance at $2.86 and support at $2.77. At the same time, liquidation data shows there is a live market in derivatives, suggesting heightened volatility around these pivotal areas. Market analysis reports indicate a long-term target of $5.42, but trading is currently limited in a tighter range.
XRP Holds Within Defined Range as Resistance Limits Gains
Short-term resistance at $2.86 is a limit to upward movement. Although it has made recent progress, XRP has failed to break this ceiling. The repeated rejections underscore the strength of the barrier. Trading data places the asset near $2.82, which shows continued testing of this resistance zone. The inability to break through highlights the importance of $2.86 in shaping the next direction.
On the lower end, support at $2.77 has been reliable during pullbacks. Buyers have stepped in repeatedly at this level, preventing a sharper decline. Notably, this support aligns with recent stabilizing points, giving XRP a clear range between $2.77 and $2.86. The price action between these boundaries suggests that market participants are closely watching for any decisive movement.
XRP Liquidations Show Bullish Bias Amid Volatility
Data from the liquidation chart reveals notable long liquidations during recent corrections, particularly when XRP failed to sustain levels above $3.00. However, green bars representing long positions have been dominant since mid-July, reflecting increased bullish exposure.
Source: Coinglass Short liquidations have occurred but at smaller magnitudes, pointing to stronger interest in long positioning. Despite this, larger red spikes in July and early August illustrate the risks tied to sudden declines. The correlation between XRP price movements and liquidation volumes shows derivatives traders are actively shaping short-term volatility.
