XRP Squeeze Hits Resistance Wall as $2.2M Shorts Await

XRP's price surged by 22% in just 24 hours, reaching $1.26 and clearing a previously identified breakout target.

The sudden rally triggered a cascade of short-covering buying, with liquidation pressure driving the price toward a critical resistance test at $1.38.

According to Hyperliquid data, cumulative short liquidations reached around $2.2 million at this level, which represents about 4.4% of total open interest in XRP.

The market is now watching whether the squeeze becomes a breakout or if it will fail and send prices back toward $1.19.