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- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
🆘 #Gate 2025 Semi-Year Community Gala# | Square Content Creator TOP 10
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Post your - 💙 Gate Square #Gate Blue Challenge# 💙
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XRP Poised for Breakout: A Supply Squeeze & Liquidity Magnet Signal a Rally!
After a week of sideways trading, XRP is now showing strong signs of a potential breakout. The altcoin, which has been hovering between a key resistance and a crucial support level, is now being fueled by a powerful combination of on-chain signals that suggest a massive upward move could be imminent. Is XRP ready to break out of its current range and rally to new highs?
The Supply Squeeze: XRP Outflows from Exchanges 💸
A key factor fueling the bullish narrative for XRP is a significant supply squeeze. According to on-chain data from Glassnode, the percentage of XRP's circulating supply on centralized exchanges has fallen to a monthly low of 5.66%. This decline suggests that investors are moving their holdings off exchanges for long-term storage, which in turn eases selling pressure and creates ideal conditions for a price breakout. When a limited supply of a crypto is available on exchanges, a new surge in buying pressure can easily propel the price upwards.
The Liquidity Magnet: A Path to $3.66? 🎯
A liquidity heatmap from Coinglass indicates a massive concentration of capital at the US$3.40 level. This could act as a "price magnet" to trigger a cascade of liquidations, forcing short sellers to buy back XRP and propelling the price even higher. While the broader market is currently experiencing a decline, pushing XRP near its US$3.11 support, a strengthening bullish bias could lead to a breach of the US$3.34 resistance. A successful breakthrough could then open the door for XRP to reach a target of US$3.66, which is its all-time high.
Conclusion
XRP is at a pivotal moment, with a compelling combination of a supply squeeze and a liquidity magnet pointing to a potential breakout. The decline in the percentage of XRP on exchanges, combined with a concentration of capital at key resistance levels, suggests that XRP could be on the verge of a massive upward move. The coming days will be a crucial test of whether XRP can break out of its current range and rally to new highs.
Disclaimer
This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high level of risk and volatility. Always conduct your own research (DYOR) and consult a professional financial advisor before making any investment decisions.