XRP Surges on Short Squeeze, Whale Accumulation, and Technical Breakouts

XRP's price surged by 3.3% over the last 17 hours due to a combination of factors, including a short squeeze, whale accumulation, and technical breakouts.

The cryptocurrency became one of the most leveraged bets in the market, with options markets indicating an 8.9% move above its recent realized volatility.

Around $19.2 million in XRP futures positions were liquidated in 24 hours, with about $17 million coming from short positions.

Large holders and institutional players added roughly $2.2 billion in XRP over recent days, cushioning dips and powering the breakout.

XRP broke above a resistance band around $1.42-$1.43, which had capped price for weeks, and reclaimed its 200-period moving averages.