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Summary ⚈ XRP shorts hit a 2-week low as the token fails to breach $2.20. ⚈ XRP’s RSI is 38, and recent Ripple token unlocks add selling pressure. ⚈ No clear bearish catalyst exists, but bullish sentiment grows amid Ripple-SEC case progress. The ratio of newly-opened XRP shorts compared to long positions reached a 2-week low on May 5, as the token’s price failed to breach resistance at $2.20. To be more precise, 55.07% of positions opened in the past 12 hours have been longs, and 44.93% have been XRP shorts, per data retrieved by Finbold from market intelligence platform CoinGlass . XRP long-short ratio chart. Source: CoinGlass At press time, the price of XRP had fallen to $2.15, marking a 1.67% decline on the daily chart. Prices briefly touched the $2.14 mark on two occasions, but quickly bounced off, demonstrating a strong degree of demand at those levels. XRP price 1-day chart. Source: Finbold Is the reduction in XRP shorts a bullish signal or a fa...

In 2024, XRP finally broke out of the prolonged price consolidation, emerging as one of the biggest winners of the ongoing cryptocurrency market rally. To put this price breakout into perspective, XRP rallied by over 300% in the past month, elevating the cryptocurrency to third place based on market capitalization, surpassing Solana (SOL) and Tether’s USDT. Overall, XRP’s price remained relatively stable throughout most of 2024, fluctuating between $0.50 and $0.60. However, in early November, the token took a new turn, and its value tripled by the end of the month to about $1.50. Picks for you Why there are no 'signs of a slowdown' for gold in 2025 2 hours ago Here’s how much your $1,200 stimulus check would be worth i...