XRP Primed for Breakout as Binance Data Flashes Bullish Signal—CryptoQuant

Binance’s latest metrics suggest XRP is gearing up for a major price surge—just as traders start questioning if this is another ’buy the rumor’ trap.

CryptoQuant’s on-chain analysis reveals accumulation patterns mirroring past rallies. Liquidity pools are thinning, exchange reserves dropping—classic pre-pump behavior.

Watch the $0.55 resistance level. A clean break could trigger algorithmic buying sprees from those perpetually late hedge funds.

Despite these hurdles, data from Binance futures suggests bulls are still in control, with buying pressure continuing to absorb the sell orders. The XRP Taker Buy/Sell ratio stands at 0.91, meaning short sellers are dominating the market. However, the price of XRP has managed to stay within the $2.30 to $2.60 range, indicating that sell orders are being absorbed effectively. 

According to CryptoQuant’s analyst, BorisVest, this trend may signal a mild short squeeze, as short sellers are forced to cover their positions which could push the price higher. Furthermore, XRP’s open interest on Binance has surged by $344 million over the past six days. This means there is more demand for the coin at the moment. 

After the closure of many Leveraged positions last month, the increase in open interest suggests that retail traders are re-engaging with XRP, and volatility may be on the horizon. 

Additionally, the funding rate for XRP has turned positive again and is currently neutral. This means there is a balance between long and short positions, which could trigger a short squeeze if short positions continue to rise. 

CryptoQuant’s data shows that despite the aggressive selling, the XRP price has remained stable. Binance data suggests the market is quietly accumulating XRP in anticipation of a potential upward move.

In addition to Binance’s data, XRP is getting a boost from the launch of the first U.S. XRP ETF “Teucrium XRP leveraged futures ETF (XXRP)” in April, which has already attracted $117 million in net assets, 

If XRP price manages to break the $2.60 resistance and close above it, it could be set for a rally towards the all-time high of $3.40. The ADX line, which measures the strength of a trend, shows that the uptrend is strong enough to break through resistance.

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