XRP Soars 22% in 24 Hours, Triggers Short-Squeeze and Tests Key Resistance

XRP's price surged by nearly 22% in just 24 hours, pushing it to $1.26 and clearing a key level identified as an upside target in July.

The breakout setup had put $1.18 as the key level, but XRP has now surpassed that and is pointing towards higher levels on the chart.

A liquidation ladder indicates that a significant short-squeeze is underway, with cumulative short liquidations reaching around $2.2 million at $1.38, about 9.5% above current spot.

This forced buying can add real demand to an already climbing move, and CoinGlass describes this as a cascading pattern during sharp price swings.