{"id":554949,"date":"2023-10-11T13:00:43","date_gmt":"2023-10-11T13:00:43","guid":{"rendered":"https:\/\/uniquehot.com\/?p=554949"},"modified":"2024-06-11T07:55:44","modified_gmt":"2024-06-11T07:55:44","slug":"bulls-vs-bears-xrp-price-gears-up-for-big-squeeze-which-side-will-prevail","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ripple\/bulls-vs-bears-xrp-price-gears-up-for-big-squeeze-which-side-will-prevail\/","title":{"rendered":"Bulls Vs Bears: XRP Price Gears Up For Big Squeeze, Which Side Will Prevail?"},"content":{"rendered":"

The XRP price has experienced a lot of volatility in the first two weeks of October, in contrast with previous months. This trend will continue as a critical metric hint at a potential \u201cshort squeeze,\u201d a price move set to take liquidity from long or short positions. <\/strong><\/p>\n

Related Reading: XRP Price Retest: A Prelude To A Stunning Surge To $2, Predicts Expert<\/a><\/div>\n

As of this writing, the XRP price trades at $0.48 with a 2% loss in the last 24 hours. The cryptocurrency recorded a 9% loss in the previous seven days and operated as the worst performer in the top 10 by market cap, closely followed by Solana (SOL).<\/p>\n

\"XRP
XRP’s price moving sideways on the daily chart. Source: XRPUSDT on Tradingview<\/strong><\/a><\/figcaption><\/figure>\n

XRP Price Sets Trajectory For Short Squeeze?<\/h2>\n

The crypto market has been experiencing a spike in volatility since October. Following months of sideways movement by Bitcoin and Ethereum, the XRP price broke the trend and ignited new life into the nascent sector.<\/p>\n

The spike in volatility was recorded when the US Securities and Exchange Commission (SEC) lost its case against payment company Ripple. A US Judge favored the company and deemed the XRP token outside of securities laws in the country.<\/p>\n

This event propelled XRP to fresh yearly highs, but the cryptocurrency has been losing some steam. Uncertainty in the crypto market remains high, and any individual bull run seems likely to lose power, as demonstrated by XRP\u2019s latest price action.<\/p>\n

However, the current status quo is fragile, and fresh data indicates an aggressive move is in the making. A pseudonym analyst shared<\/a> the chart below, showing the spike in the Bitcoin Open Interest.<\/p>\n

\"XRP
Spike in Open Interest points to a big move ahead. Source: DaanCrypto on X<\/figcaption><\/figure>\n

The analyst claims that the metric stands at a critical point that often leads to sudden moves in the price of Bitcoin, XRP, and other cryptocurrencies. In the short term, this spike in volatility could lead the XRP back to critical support levels.<\/p>\n

However, the most likely scenario is that the Short Squeeze, the sudden spike in volatility, operates as a tool for prominent market participants to take liquidity off both sides, longs and shorts.<\/p>\n

Crypto Poised For Downside Price Action<\/h2>\n

On higher timeframes, the crypto market and more prominent cryptocurrencies could become an obstacle to any upside on XRP. According to another analyst, the sector is gearing up for a significant move to the downside.<\/p>\n

The analyst bases this theory on the upcoming Bitcoin Halving. This event has a profound impact on all other cryptocurrencies, and right now, BTC is at a critical point in which historical data points to a deep retrace back to around $20,000.<\/p>\n

If BTC follows this trajectory, XRP could return to its pre-SEC victory levels. However, this downside price action might provide bulls with the \u201cperfect\u201d opportunity<\/a> to accumulate before an overall bull run unleashes its force on the nascent sector.<\/p>\n

Related Reading: Legendary Investor Declares Now Is The Time To Buy Bitcoin: Here\u2019s Why<\/a><\/div>\n

As News reported<\/a>, historical data also points to a great performance for XRP in the year’s second half. The cryptocurrency enjoys a 30% return on investment (ROI) during this period.<\/p>\n

Cover image from Unsplash, chart from Tradingview<\/p>\n","protected":false},"excerpt":{"rendered":"

The XRP price has experienced a lot of volatility in the first two weeks of October, in contrast with previous months. This trend will continue as a critical metric hint at a potential \u201cshort squeeze,\u201d a price move set to take liquidity from long or short positions. Related Reading: XRP Price Retest: A Prelude To A Stunning Surge To $2, Predicts Expert As of this writing, the XRP price trades at $0.48 with a 2% loss in the last 24 hours. The cryptocurrency recorded a 9% loss in the previous seven days and operated as the worst performer in the top 10 by market cap, closely followed by Solana (SOL). XRP Price Sets Trajectory For Short Squeeze? The crypto market has been experiencing a spike in volatility since October. Following months of sideways movement by Bitcoin and Ethereum, the XRP price broke the trend and ignited new life into the nascent sector. The spike in volatility was recorded when the US Securities and Exchange Commission (SEC) lost its case against payment company Ripple. A US Judge favored the company and deemed the XRP token outside of securities laws in the country. This event propelled XRP to fresh yearly highs, but the cryptocurrency has been losing some steam. Uncertainty in the crypto market remains high, and any individual bull run seems likely to lose power, as demonstrated by XRP\u2019s latest price action. However, the current status quo is fragile, and fresh data indicates an aggressive move is in the making. A pseudonym analyst shared the chart below, showing the spike in the Bitcoin Open Interest. The analyst claims that the metric stands at a critical point that often leads to sudden moves in the price of Bitcoin, XRP, and other cryptocurrencies. In the short term, this spike in volatility could lead the XRP back to critical support levels. However, the most likely scenario is that the Short Squeeze, the sudden spike in volatility, operates as a tool for prominent market participants to take liquidity off both sides, longs and shorts. Crypto Poised For Downside Price Action On higher timeframes, the crypto market and more prominent cryptocurrencies could become an obstacle to any upside on XRP. According to another analyst, the sector is gearing up for a significant move to the downside. The analyst bases this theory on the upcoming Bitcoin Halving. This event has a profound impact on all other cryptocurrencies, and right now, BTC is at a critical point in which historical data points to a deep retrace back to around $20,000. If BTC follows this trajectory, XRP could return to its pre-SEC victory levels. However, this downside price action might provide bulls with the \u201cperfect\u201d opportunity to accumulate before an overall bull run unleashes its force on the nascent sector. Related Reading: Legendary Investor Declares Now Is The Time To Buy Bitcoin: Here\u2019s Why As News reported, historical data also points to a great performance for XRP in the year’s second half. The cryptocurrency enjoys a 30% return on investment (ROI) during this period. Cover image from Unsplash, chart from Tradingview<\/p>\n","protected":false},"author":535,"featured_media":554950,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[4531,13172,15883,15621,15622,78763],"class_list":["post-554949","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-xrp","tag-xrp-price","tag-xrp-price-analysis","tag-xrp-price-chart","tag-xrp-price-forecast","tag-xrpusdt"],"acf":[],"yoast_head":"\nBulls Vs Bears: XRP Price Gears Up For Big Squeeze, Which Side Will Prevail?<\/title>\n<meta name=\"description\" content=\"The XRP price has experienced a lot of volatility in the first two weeks of October, in contrast with previous months. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/uniquehot.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bulls Vs Bears: XRP Price Gears Up For Big Squeeze, Which Side Will Prevail?","url":"http:\/\/uniquehot.com\/news\/ripple\/bulls-vs-bears-xrp-price-gears-up-for-big-squeeze-which-side-will-prevail\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ripple\/bulls-vs-bears-xrp-price-gears-up-for-big-squeeze-which-side-will-prevail\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/XRP-Price-XRP-XRPUSDT-Ripple.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/XRP-Price-XRP-XRPUSDT-Ripple.jpg?fit=640%2C480"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["xrp","xrp price","xrp price analysis","xrp price chart","xrp price forecast","xrpusdt"],"dateCreated":"2023-10-11T13:00:43Z","datePublished":"2023-10-11T13:00:43Z","dateModified":"2024-06-11T07:55:44Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bulls Vs Bears: XRP Price Gears Up For Big Squeeze, Which Side Will Prevail?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ripple\\\/bulls-vs-bears-xrp-price-gears-up-for-big-squeeze-which-side-will-prevail\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ripple\\\/bulls-vs-bears-xrp-price-gears-up-for-big-squeeze-which-side-will-prevail\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/XRP-Price-XRP-XRPUSDT-Ripple.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/XRP-Price-XRP-XRPUSDT-Ripple.jpg?fit=640%2C480\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"xrp\",\"xrp price\",\"xrp price analysis\",\"xrp price chart\",\"xrp price forecast\",\"xrpusdt\"],\"dateCreated\":\"2023-10-11T13:00:43Z\",\"datePublished\":\"2023-10-11T13:00:43Z\",\"dateModified\":\"2024-06-11T07:55:44Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/XRP-Price-XRP-XRPUSDT-Ripple.jpg?fit=640%2C480","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/554949"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=554949"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/554949\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/554950"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=554949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=554949"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=554949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}