XRP Short Squeeze Setup Triggered by BTC Price Movement

XRP is currently trading at $1.43, down about 4% today as it bleeds with the rest of the altcoin market.

The bull case for XRP looks decent structurally, with long-term holders not selling and conviction holding up.

However, short-term cost basis is right around current price, making it a decision point. Max pain data actually shows a short squeeze setup, meaning more short leverage is stacked against XRP than long leverage.

If the price moves up, that pressure will unwind fast, which could trigger a short squeeze in XRP.