XRP Price Faces Heavy Liquidation Pressure at Key Resistance Level

The price of XRP is facing intense pressure due to heavy long liquidations in the market. According to recent data, many retail traders holding high-leverage long positions were forced out as the market declined, rather than a sudden build-up of bearish bets.

CW warned that traders need to be careful with high-leverage positions, as a sharp move can quickly put pressure on positions built on borrowed exposure. This event shows how quickly a market move can affect leveraged traders without necessarily meaning that sellers have taken full control of the market.

The key level to watch is $1.65, which has been identified by Crypto analyst EGRAG CRYPTO as a battleground for XRP. The price needs to reclaim and hold this level for the market structure to start changing, making it one of the main areas to watch as traders assess whether the recent decline is losing strength.