XRP Targets $1.20 After $3.93M Short Liquidations

Published: 2026-06-15 08:37:18 |

XRP price is pushing toward the $1.20 level after a $3.93M liquidation event over 24 hours. About $2.54M of the liquidations came from traders shorting XRP, which helped fuel a potential short squeeze. At the time of writing, XRP trades around $1.18, up roughly 3.3% in 24 hours. The $1.20 area is described as a key psychological resistance. Traders will watch for a clean break higher, which could force additional short positions to close and extend the rally. The catalyst highlighted in the report is improved geopolitical risk sentiment following President Donald Trump’s announcement that a U.S.-Iran agreement is complete and that the Strait of Hormuz can reopen. Easier energy-route concerns and improved global risk appetite appear to have encouraged rotation back into higher-risk assets, with XRP as a notable beneficiary. Separately, institutional support is cited: the U.S. SEC has approved the listing of T. Rowe Price’s Active Crypto ETF that includes XRP alongside BTC, ETH, SOL, ADA and DOGE. Overall, the combination of short-covering pressure and institutional visibility keeps XRP’s $1.20 reclaim as the near-term focal point.

Bullish

This news is bullish for XRP because it combines two trader-relevant tailwinds: (1) short liquidations that can mechanically amplify buying (a classic squeeze setup), and (2) a macro/risk-sentiment trigger that may increase crypto inflows. With XRP trading near $1.20 after a $3.93M liquidation flush and $2.54M attributed to shorts, any continuation toward $1.20 can trigger further stop-losses and short-covering. Historically, when a major resistance level aligns with liquidation-driven volatility—especially after bullish sentiment catalysts—price often experiences an extended momentum phase in the short term. However, if XRP fails to hold above $1.20 after a push, the move can quickly reverse because the market may be unwinding rapidly after the squeeze. In the longer term, the SEC-approved ETF inclusion (with major peers like BTC/ETH/SOL/ADA/DOGE) tends to support steady demand narratives, which can reduce downside volatility compared with purely retail-driven pumps. Net effect: bullish near-term momentum, with dependency on whether XRP can reclaim and sustain above $1.20.