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XRP Nears $3 as $272M Shorts Risk Massive Liquidation Breakout
The cryptocurrency market has been abuzz with the recent surge in Ripple’s native token, XRP. In a shocking turn of events, the altcoin is now perilously close to breaking through the highly coveted $3 mark.
At the time of writing, XRP’s price stands at $2.677, casting a shadow over the whopping $272.3 million worth of short positions currently exposed and threatened by liquidation. If the cryptocurrency continues its upward trajectory and manages to cross the psychological barrier of $3, expect a massive short squeeze that could drive prices further upwards.
As it stands, traders are closely monitoring XRP’s movement as the market teeters on the edge of a pivotal moment. It is crucial for investors to remain vigilant and take no chances in this game of cat and mouse between the cryptocurrency and its adversaries.
The past has shown us that such moments can be fraught with uncertainty, but also potentially lucrative opportunities for those who dare to take the risk.
Source: cryptonewsland.com
