Will XRP price double again? 'Latent' buy pressure puts shorts in danger

💡 DMK Insight

XRP’s current funding conditions at $1.91 could signal a significant rebound ahead, similar to past performance. Historically, XRP has seen rebounds of 50% and 100% under similar funding conditions, which suggests traders should be on high alert for potential upward momentum. If we look at the recent price action, a break above the $2.00 resistance level could trigger a wave of buying, especially from retail investors looking to capitalize on the bullish sentiment. Keep an eye on the funding rates; if they remain elevated, it could indicate that traders are overly leveraged, which often precedes a correction or a strong move. But here’s the flip side: if XRP fails to hold above the $1.85 support, we might see a quick reversal, leading to a test of lower levels. This could shake out weaker hands and create a buying opportunity for those who are patient. Watch for the next few days; if we see consistent closes above $1.95, that could confirm a bullish trend. Overall, the next few trading sessions will be crucial for determining XRP’s trajectory, so stay sharp and monitor those key levels closely.