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XRP Price Prediction: Can XRP Reach $1.60 After Surging Back to $1.50?
Bitcoin’s rally and $300 million in short liquidations helped lift XRP, while traders watch $1.55 as the key level before a possible move higher.
- XRP reclaimed $1.50, rising 7.6% in 24 hours after Bitcoin surged past $85,000, marking the token's first time above that level since the Senate blocked the CLARITY Act on September 15.
- Exchanges liquidated about $300 million in short positions within one hour as Bitcoin surpassed $85,000; falling oil prices and Treasury yields sparked a broader market rebound easing inflation concerns.
- Investors now watch the $1.55 resistance level, which XRP has not closed above since August. If the price slips, the first support level sits at $1.44, followed by the 200-day moving average at $1.35.
- Traders question whether the rally can reach $1.60 before the September 30 quarter close without a new catalyst. The risk remains that the short squeeze may not continue, potentially trapping the price between $1.50 and $1.55.
- Ripple's scheduled release of 1 billion XRP from escrow on October 1 could amplify selling pressure if the price drops during an already shaky week. This supply influx complicates the outlook for early October.
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BizToc
BizTocXRP Price Prediction: Can XRP Reach $1.60 After Surging Back to $1.50?
A short squeeze just blasted XRP back above $1.50, but the move that got it there may be the same force that stops it from going further. One price level now stands between XRP and $1.60, and the clock is running out.
·Lakewood, United States
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XRP Gains Momentum as Spot Volume Rises
XRP spot activity increased alongside the latest advance, while futures volume and open interest remained elevated across the market. XLM continues testing descending resistance after recovering from August lows, with MACD and RSI showing improving momentum conditions. XRP and XLM now face key technical levels that could shape their respective short-term price structures. XRP continues attracting attention as spot activity rises, while XLM appro…
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Total News Sources34
Leaning Left1Leaning Right0Center2Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 33%
C 67%
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