XRP News Today: XRP breaks above $3.00 as short squeeze gains momentum

XRP is surging past critical resistance levels, triggering a wave of speculation around a potential short squeeze scenario. Crypto analyst STEPH IS CRYPTO has stated that XRP is “on track to wipe out all remaining shorts,” suggesting that bullish momentum is now firmly in control. With the price reaching $3.33 at the time of the report, the asset has crossed the key $3.00 threshold and even hit an intraday high of $3.37 [1].

The breakout above $3.00 has redefined XRP’s price dynamics, transforming the former ceiling into a potential foundation for further gains. Strong support was established around $3.03, signaling renewed buying pressure and a reversal in market sentiment. This shift is not just technical but also structural, as the price action indicates a broader shift in trader positioning [1].

According to STEPH IS CRYPTO’s analysis, the current price movement is being fueled by liquidation activity among overleveraged short positions. As XRP continues to rise, traders who bet against the asset are being forced to cover their positions at a loss, which in turn creates a self-reinforcing upward spiral in the price [1]. This dynamic increases the likelihood of a short squeeze, where rapid buying pressure from short-covering traders accelerates the rally.

A liquidation heatmap shared by the analyst highlights key price levels where concentrated short interest remains. As XRP moves through these levels, the probability of forced buying rises, which could result in a sharp and sustained price increase [1]. Such scenarios are common in highly leveraged markets and often catch traders off guard, especially when momentum builds quickly.

XRP’s recent strength is also supported by improved market sentiment and regulatory clarity. Ripple’s legal victories have helped reduce the uncertainty that once surrounded the asset, encouraging both institutional and retail participation. With the broader cryptocurrency market in recovery mode and capital flowing into stronger altcoins, XRP has emerged as a standout performer in the current market cycle [1].

Looking ahead, the focus for XRP traders is on whether the asset can maintain its momentum and move beyond the $3.00 level toward higher resistance. Analysts are closely watching for a confirmation breakout above $3.50, which could trigger a new wave of buying and potentially extend the upward trend. If the short liquidation continues as anticipated, the next phase of price appreciation could arrive more rapidly than expected [1].

While volatility remains a factor in XRP’s price action, the current structure appears to be a textbook setup for a full wipeout of short positions. STEPH IS CRYPTO’s prediction aligns with the observed price behavior, reinforcing the idea that bulls are now in control of the trend. However, as with any market, caution is advised, and traders are encouraged to conduct their own due diligence before making investment decisions [1].

Source: [1] Analyst: XRP On Track to Wipe Out All Shorts (https://timestabloid.com/analyst-xrp-on-track-to-wipe-out-all-shorts/)