XRP prices consolidate – Will $260M in shorts spark a reversal?
XRP traders have built $258 million worth of short positions at $3.68 level.
Key Takeaways
XRP consolidated above $3.35 after ATH, with mixed trader sentiment. Experts were bullish amid ETF optimism and a technical breakout, but the overbought RSI suggested a potential short-term correction before further gains.
After reaching an all-time high (ATH), Ripple [XRP] price is consolidating above the key support level of $3.35.
Meanwhile, traders are heavily betting on the bearish side, with nearly $260 million worth of short positions opened around the $3.68 level.
At press time, XRP price remained strong at the $3.50 level, climbing a modest 0.35% in the past 24 hours.
During this period, trader and investor participation has increased, leading to a 16% rise in recorded trading volume.
Mixed sentiment among traders and investors
CoinGlass reported that long-term XRP holders were steadily accumulating tokens, even as short-term traders bet on a price drop.
In the last 48 hours, $56.85 million worth of XRP has exited exchanges, a move suggesting that investors are shifting their holdings into secure wallets, possibly signaling long-term confidence despite current market indecision.
On the other hand, traders appear to be pushing the price lower. At press time, the major liquidation level on the downside was at $3.412, where traders have built $69.51 million worth of long positions.
Meanwhile, $3.684 was another key level on the upside, where traders have built $258 million worth of short positions.
Combining these metrics highlights the mixed sentiment among investors and traders.
Experts lean bullish on XRP
Despite the mixed sentiment among traders and investors, experts have shared a bullish outlook, suggesting that traders’ $258 million in short positions were at risk of liquidation.
On the 22nd of July 2025, a prominent crypto expert posted on X (formerly Twitter) that the odds of Spot XRP ETF approval had surged to 95%, which appears to be a bullish catalyst for XRP and its holders.
Whereas, another crypto expert made a bold prediction on X, stating that XRP is targeting $15. He added that, on the weekly chart, XRP remains bullish as it has broken out of a bullish flag pattern.
XRP price action and key technical levels
This prediction seems unrealistic, as the asset would need to surge 327% to reach that target.
AMBCrypto technical analysis suggests that XRP is in an uptrend and, with consolidation above its breakout level, is considered a positive sign.
Based on recent price action, if XRP maintained this support, the next potential target could be $6, as indicated by Fibonacci levels; otherwise, it could decline to the $3.40 level.
At press time, the asset’s Relative Strength Index (RSI) stood at 83, indicating that it is in overbought territory. This raises the possibility of a short-term correction before any further rally.
