XRP Price Hits $1.63 Yearly Peak as Short Positions Remain Firm
XRP recently reached a high of $1.63, but has since dropped to $1.44, with open interest decreasing by 9% to $2.52 billion. This decline suggests a decrease in market confidence. Short positions currently outnumber long ones, with a Long/Short ratio of 0.96%, indicating a growing skepticism about a sustained upward trend.
Key support for XRP is at $1.33, and further bearish momentum could drive the price down to $1.15. On the other hand, a bullish reversal could see XRP target $1.63 once again. It’s important to keep an eye on these key levels to gauge the future direction of the XRP price.
