XRP Short Liquidation at $3.094 Signals Bullish Momentum
I observed $81.4K of short positions in XRP get liquidated at $3.094. That liquidation reflects short-covering and buying pressure around this price level.
I see this as a mildly bullish signal but limited by the modest size of the liquidation; it reduces immediate short-side risk but needs follow-through on volume to confirm a sustained move.
Analysis
Recommendation
Buy on weakness: prefer to wait for a small pullback or clear confirmation above recent levels before entering, and size positions with tight risk management given the modest liquidation size.
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.