XRP Reaches Crucial Liquidity Zone as Leverage Surges

XRP has reached a major liquidity zone around $1, according to prominent crypto analyst CryptoInsightUK. The area has been targeted by bears for months, but its behavior after reaching it makes the next move difficult to predict.

CryptoInsightUK has followed this liquidity pocket for several months and repeatedly pointed out that the area draws XRP lower. The analyst opened a large short position between $1.08 and $1.10 in July and kept it even after XRP nearly reached $1.18, expecting XRP to sweep the large amount of resting orders around the psychological $1 level.

XRP dropped to a low of $1.0015, just shy of the $1 mark, but CryptoInsightUK believes the liquidity sweep is already taking place. The analyst considers this the only truly large liquidity pocket on the chart, while smaller clusters remain above the current price.