XRP Price Jumps to $1.12 After Massive Short Squeeze

XRP surprised the market today by breaking its multi month bearish trend to hit a price of $1.12. This sudden climb was sparked by the latest US Producer Price Index report, which showed cooler than expected inflation numbers.

The jump triggered a massive reaction in the derivatives market. Data shows a short liquidation imbalance that surged past 300 percent. In total, 331 percent more short positions were liquidated compared to long positions, forcing many traders to cover their bets as the price moved upward.

This shift in momentum is a significant change for the coin after weeks of struggling against downward pressure. Traders should keep an eye on whether XRP can hold the $1.12 level as support in the coming days. If the buying volume continues, the market could see further volatility as remaining short sellers react to the new price reality.