XRP Eyes $1.10 Breakout as Short Positions Pile Up

XRP is holding steady around $1.07 this Thursday. The price is currently trapped under a long term descending trendline that has kept gains in check for several months. Traders are watching this narrow range closely because it suggests that a sharp move is coming soon.

The market is paying close attention to a cluster of short liquidations sitting just above the $1.10 mark. If the price pushes past this level, it could trigger a wave of buying as those short positions are forced to close their trades.

For now, the token remains stuck between a key support level and this overhead resistance. Investors are waiting to see if XRP can sustain momentum to clear the trendline, which would signal a shift in the current market direction.