XRP & XLM Surge 11% Amid Market Recovery; XRP Eyes Breakout
XRP and XLM led the market recovery, with the XRP price surging 11.4% to $2.56 and the XLM price climbing 11.5% to $0.31. These rallies ranked XRP eighth and XLM twentieth by market cap, triggering over $9 million of liquidations on XRP (75% shorts) and significant short liquidations on XLM (70%). Rising above key levels, XRP may break its four-month downtrend, bolstered by Ripple’s recent $500 million fundraising. Analysts monitor whether the XRP price can sustain this momentum beyond key resistance. Bitcoin and Ethereum also posted modest gains, up 3.7% and 4.2% respectively.
Bullish
The strong gains in XRP and XLM suggest increased bullish momentum, as double-digit rallies and substantial short liquidations reflect intensified buying pressure. Historical patterns show that forced liquidation of shorts often accelerates upward price movements, supporting a sustained uptrend in the short term. Additionally, Ripple’s $500M fundraising boosts investor confidence and underpins XRP’s fundamentals, improving its medium-to-long-term outlook. While broader market recovery with BTC and ETH gains adds positive sentiment, traders should watch key resistance levels to gauge whether the rally has sufficient momentum for a lasting breakout.