XRP Breaks Through $1.40 Barrier Amid Short Squeeze and Rising Network Activity

The XRP price has broken through the $1.40 barrier due to a combination of factors, including short squeezes and rising activity on the XRPL network.

According to data from Altcoin Buzz, XRP recorded approximately $2.02 million in short liquidations on September 15, compared to just $1.58 million in long liquidations.

This imbalance pushed XRP's price through the $1.38-$1.40 resistance area and towards a short-term high near $1.44.

The rally also coincided with the Federal Reserve decision and the failed Senate vote on the CLARITY Act, which had previously caused XRP to fall nearly 10%.

Ripple stated that the vote did not change XRP's existing legal position, allowing it to recover as the broader market stabilized.