XRP Breakout Accelerates Amid Strong Buying Momentum and Heavy Short Liquidations

XRP's recent surge above key moving averages has caught the attention of traders and investors alike. Over the past 24 hours, the cryptocurrency has risen by 7.02% to $1.44194, with its price pushing near the top of its range.

The rebound is attributed to strong buying momentum and heavy short liquidations, which have totaled $6,245,064 over the same period. Coinglass data shows that $4,439,249 of these liquidations were tied to short positions, indicating a significant bearish bet unwind.

From a technical standpoint, XRP has reclaimed both the 50-period and 200-period simple moving averages, signaling an improving trend structure. The Relative Strength Index (RSI) stands at 78.18, firmly in overbought territory, while the Moving Average Convergence Divergence (MACD) shows expanding bullish momentum.

However, with RSI elevated and price stretched above the upper Bollinger Band, a period of consolidation or a pullback toward the $1.40 area would not be unusual before the next directional move develops. If XRP can maintain acceptance above the $1.43-$1.44 zone, the breakout could extend as short-covering pressure subsides and buyers attempt to establish higher support.