Huge XRP short squeeze on the horizon
The cryptocurrency market started a bull rally on February 7, led by Bitcoin (BTC). However, XRP is lagging behind, maintaining a relevant volume of bearish short positions, creating short-squeeze opportunities for next week or sooner. A short squeeze happens when short -sellers are liquidated, facing a sudden price surge during trend reversals. These liquidations force the repurchase of the short ed cryptocurrency, driving the price even higher, triggering further liquidations, and potentially making it skyrocket. In this context, Finbold gathered data from CoinGlass about the crypto derivatives market on February 9. In particular, we spotted short squeeze potential on XRP in the monthly time frame. Short squeeze alert for XRP next week XRP has heavy liquidity accumulation at the $6 price level. More specifically, there are $8,680 in short liquidations at $6.01, making it an appealing target for market makers. Picked for you Terra Classic to the moon? LUNC shoots 1...