don't buy

XRP Long Liquidated at $3.035 — Near-Term Downside Risk

I had a leveraged long on XRP that was liquidated, costing $60.5K at a price of $3.035.

That liquidation shows there was enough selling pressure or a stop-run around this level to wipe out leveraged longs.

I won’t be chasing longs here; I’ll wait for clearer support and lower leverage before considering re-entry.

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Analysis

The liquidation indicates significant downside momentum and that leveraged positions were vulnerable around $3.035. This likely reflects stop-loss cascades or a brief spike in selling pressure rather ...

Recommendation

Don't buy into XRP right now. Reduce leverage, wait for confirmed support or a clear trend reversal, and use defined stop-losses if considering any exposure.

Disclaimer

The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.

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