XRP eyes upside as $320M short liquidations outweigh $130M longs

Will Taylor says XRP is nearing a technical inflection. A tightening wedge, oversold weekly RSI, and skewed liquidations point to downside exhaustion.

In Week 188 of his newsletter, Taylor maps a weekly “descending wedge or parallel channel” and weighs two paths: one last pullback toward ~$1.10 or a break higher that reclaims support on the way up The Weekly Insight, Week 188.

He notes weekly RSI touched oversold, similar to the 2022 bear‑market lows. He adds the broader crypto market sits near zones that historically land within 10%–15% of major bottoms on weekly RSI measures The Weekly Insight, Week 188. Altcoins may still see “one more small dip” before a more durable turn NewsBTC: XRP bottom risk may be further.

The liquidation map stands out. A push toward ~$3.60 would wipe out over $320M in shorts, while a move to ~$0.39 would clear about $130M in longs, creating a cleaner incentive to run price upward NewsBTC: XRP building a short squeeze. Taylor says open interest supports the setup, with leverage not yet crowding the trade NewsBTC: bullish signal and positioning.

Timing stays the caveat. He expects a final, modest dip across crypto, linking the bottoming window to macro developments over the next 4–6 weeks The Weekly Insight, Week 188.

Key levels:
- Potential sweep low near $1.10 before reversal source.
- Upside squeeze target around $3.60; ~$320M shorts above source.
- Downside liquidation near $0.39; ~$130M longs below source.