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XRP June Outlook: $2.19 Target Could Trigger $500M in Liquidations
- XRP is forecasted to average $2.15 in June 2024, with a projected increase to $2.19 by June 2025.
- Over $500 million in short positions could face liquidation if XRP surpasses $2.20.
- Early XRP holders are selling off their holdings at a daily average of $68.8 million, realizing profits exceeding 300%.
- Changelly's June projection suggests XRP will maintain its momentum through 2024 and into 2025.
- Analysts predict a price floor of $1.77 and a ceiling around $2.11 for XRP in 2025, with some estimates reaching $2.44 later in the year.
- The optimistic outlook is driven by increased interest in XRP as regulations clarify and cross-border utility expands.
- A breakout above $2.20 in XRP's price could trigger massive liquidations, with significant short interest concentrated around $2.35 to $2.40.
- Market indicators suggest potential cascading liquidations due to upward price volatility.
- The market sentiment indicates growing price friction as leveraged positions are tested, with the XRP market approaching a crucial inflection point above $2.
- Glassnode data reveals a wave of profit-taking by early XRP holders, with an average daily sell-off of $68.8 million.
- Many long-term XRP holders are optimistic about the future based on the clearing regulatory environment and new corridors opened by Ripple.
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