XRP Breakout Gains Momentum as Strong Buying Pressure Overpowers Shorts

XRP has experienced a significant price surge in recent hours, with the cryptocurrency trading at $1.44 as of 10:51 on February 25. This increase is largely attributed to strong buying momentum and heavy short liquidations, which have resulted in a decisive rebound for XRP.

The breakout above key resistance levels has been accompanied by increased volume and a shift in institutional positioning. Coinglass data indicates that $6,245,064 worth of XRP liquidations occurred over the past 24 hours, with the majority being short positions. This trend is consistent with broader crypto market liquidations, which have reached $363.37 million.

Technical indicators also support the notion of a trend reversal. XRP's position above both the 50-period and 200-period simple moving averages marks a notable shift in bias. The Relative Strength Index (RSI) stands at 78.18, reflecting aggressive buying pressure, while the Moving Average Convergence Divergence (MACD) shows expanding bullish momentum.