XRP Price Skyrockets on Short Squeeze, Consolidates Before Next Move

XRP's price skyrocketed from $1 to $1.66 in just three days, only to pull back to its current value of around $1.38.

The sudden surge was largely driven by a short liquidation cascade, rather than steady accumulation by buyers.

This type of move is often seen after a long period of consolidation, and it's not uncommon for markets that experience such rapid price increases to spend weeks digesting the move.

XRP has been trading in a tight range between $1.25 and $1.50 for several days, suggesting that the market may be consolidating before making its next move.