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The Ripple (XRP) 
$2 price experienced fluctuations on May 1, descending from a daily peak of $2.24 to a low of $2.13. This decline was linked to developments regarding the failed acquisition attempt by USDC issuer Circle, based in the United States. The drop led to a liquidity imbalance, as investors with long positions faced liquidations. Following these events, the price dipped below significant liquidation levels, indicating a possible upward trend toward $3 for XRP.
Trading Volume and Liquidation Circumstances
According to CoinMarketCap data, XRP’s current value stands at $2.23. Recently, trading volume surged by 19%, reaching $3.42 billion. The altcoin has started to recover above the $2.20 support level and is closely monitored by investors. Liquidations in long positions have contributed to increased selling pressure in the market, signaling excessive liquidation.
Technical Analysis and Investor Expectations
Technical analysis reports indicate that XRP is undergoing a consolidation process within a narrow trading range. The chart shows ongoing resistance testing from the descending trendline above, with a potential breakout above $2.33 pointing to a price increase to $2.61. This scenario lays the groundwork for positive expectations toward the $3 target. However, if the price dips below $2.15, risks of a liquidation wave triggered by high-leverage trades may emerge.
Analyst ALT4F articulated that increasing long position liquidations support the expectations of a rise in XRP’s price.
Liquidation heat map data illustrates that a dense liquidation zone exists at the $2.34 level above the price. Once conquered, liquidations in short positions may lead to increased buying pressure. Market participants believe exiting the narrow trading range and sustaining movement above $2.30 could trigger a broader upward trend.
The RSI indicator in the chart is positioned at 55, interpreted as a sign of the current bullish momentum. Meanwhile, on-balance volume (OBV) metrics also provide supportive signals, but caution investors about potential short-term volatility risks.
Analysts assert that XRP is consolidating at critical price levels, and any forthcoming breakout should be closely watched by investors. Given the market’s high leverage usage, small dips could lead to extensive liquidations.
Investors are encouraged to attentively monitor technical indicators and liquidation data to assess potential breakout points. The price remaining within a narrow range underscores the importance of risk management.
