XRP Short Liquidation at $3.092 Signals Short-Covering Boost
I noticed a $120K short was liquidated on XRP at $3.092. That forced buying likely pushed the price higher in the short term.
I view this as a short-term bullish sign driven by short-covering, not necessarily a sustained trend change. Liquidity, order flow and broader market context will determine follow-through.
I would watch for confirmation (higher highs and volume) before adding size and use tight risk controls because reversals can be fast after a squeeze.
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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.