XRP is trading at $2.15, but traders watching the liquidation map know that’s only part of the story.
The latest data from Coinglass shows a swelling wave of short exposure building above current levels, over $500 million in potential short liquidations could be triggered if XRP climbs just 20 cents higher.
At the heart of this setup is one brutal market mechanic: leverage cuts both ways. And right now, XRP bears are looking dangerously overexposed.
The XRP Exchange Liquidation Map reveals a sharply rising green curve just past $2.20, peaking around $2.35–$2.40. That’s where the bulk of leveraged short positions are stacked.
If XRP breaks through resistance and moves into that zone, it could force those short sellers to cover fast, buying back the token in a panic, adding fuel to the rally in what’s known as a short squeeze. On Bybit, Binance, and OKX, these liquidation levels are densely packed.
For beginners, this means XRP could move explosively without any new headlines, just the pressure of shorts collapsing under their own weight.
But the headlines are coming too.
Ripple v. SEC court case continues
On the legal front, the Ripple v. SEC saga drags on. The case won’t see final resolution until at least August 2025, after Judge Torres granted an extension for remedy briefs. This delay, while frustrating to some, removes near-term legal risk, and ironically gives XRP room to rally unburdened by court drama for the next several weeks.
Meanwhile, a spot XRP ETF has officially launched in Canada, marking a significant milestone in XRP’s journey toward institutional legitimacy. While U.S. approval may still be far off, the Canadian listing has already drawn regional inflows and reignited bullish sentiment across crypto X (Twitter).
Featured image via Shutterstock
