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XRP (CRYPTO: XRP) has been trading sideways for a month, but traders say growing liquidity and fresh technical buy signals could set the token up for a sharp upside move.
Traders See Short Squeeze Setup Building
Analyst Cryptoinsightuk said XRP may be approaching a major local bottom as momentum indicators including RSI and MACD begin flashing historically bullish reversal signals.
The trader argued that deeply negative funding rates combined with heavy liquidity sitting above current price levels could fuel a strong short squeeze higher.
He compared XRP’s current structure to the setup seen before Toncoin (CRYPTO: TON) …
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