XRP Kangaroo Phase: Price Gears Up for $8.5 to $27+ Surge

Technology

Bulls Must Clear this $300M Hurdle to Reclaim $3.1 in March – Crypto News

Published

5 days ago

March 10, 2025

Dripp

Ripple (XRP) price stabilized above the $2.10 mark on March 9 as the broader crypto market experienced renewed selling pressure following the latest U.S. Non-Farm Payrolls (NFP) report. The latest XRP liquidation data reveals a crucial bearish leverage cluster that could determine the next major price move.

Ripple (XRP) Stabilizes Above $2 as Markets Brace for Further Outflows

Ripple (XRP) price found strong support at the $2 level despite a sharp sell-off over the weekend. XRP traded as low as $2.08 on Sunday, marking a 22% decline in just 48 hours. However, bullish traders made a concerted effort to prevent a deeper breakdown, with XRP rebounding to $2.17 at the time of writing.

XRP Price Action

The broader crypto market has been weighed down by capital outflows following the U.S. NFP report. With bond yields climbing and inflation concerns resurfacing, risk assets like XRP continue to face macroeconomic headwinds. The 10-year U.S. Treasury yield surged to 4.3%, its highest level since November 2023, signaling that institutional investors are shifting funds toward fixed-income securities.

As tariff impacts on global trade begin to materialize, crypto markets could experience further volatility in March. This could put additional pressure on Ripple price, making its upcoming resistance battles even more crucial for traders seeking a bullish recovery.

XRP Bears Deployed $297M in Leverage at $2.70 Over the Past Month

XRP price action has been significantly influenced by market sentiment surrounding Donald Trump’s economic policies. While Bitcoin has seen heightened volatility, XRP traders have also adjusted their positions in anticipation of further regulatory shifts.

According to Coinglass data, bearish traders currently dominate the XRP derivatives market. Over the past 30 days, total long leverage positions amounted to $114 million, while short leverage stood at $372 million. This means that bearish sentiment has accounted for approximately 76.5% of leveraged positions, reflecting growing caution among traders regarding Trump’s policies and their potential impact on XRP prices.

Ripple (XRP) Liquidation map | Source: Coinglass

A closer look at the liquidation map reveals that of the active $372 million in short contracts, a significant $297 million is concentrated at the $2.70 mark. This level represents a major hurdle for bulls in the next recovery phase.

If XRP price approaches $2.70, bearish traders could deploy defensive measures, including increasing short positions or triggering liquidations, to suppress upward momentum. This could create a temporary resistance zone, making it difficult for bullish traders to push prices toward the next psychological target of $3.1.

For traders with a low-risk appetite, waiting for a confirmed breakout above $2.70 before entering major long positions could provide a safer entry strategy. A decisive move above this resistance would indicate a shift in market sentiment, potentially setting the stage for a sustained bullish rally.

XRP Price Forecast: $2.7 Resistance Looming large As Bears Gain Control

XRP price remains under pressure, leaning bearish as it struggles to hold above $2.18 following a 20% decline over the past two days. The chart reveals a decisive breakdown from its previous consolidation range, with the upper Donchian Channel boundary at $2.99 acting as a significant resistance level. The midline at $2.47, now breached, suggests a shift in market structure that could make further downside likely unless bulls reclaim higher ground.

The RSI at 43.23 signals weakening momentum, hovering just above oversold conditions. A continued drop below 40 could invite further selling pressure, with XRP potentially testing support at $1.95. However, if buyers step in, a move above $2.47 would be the first bullish confirmation, with the $2.70 level posing a critical hurdle due to leveraged short positions.

The volume spike to 809 million in the past two days suggests increased participation, yet the dominance of red candles indicates bearish control. Should XRP fail to reclaim $2.47 quickly, the likelihood of another leg down remains high. However, a break above $2.70 could trigger short liquidations, fueling a rally toward $2.99.