A significant short squeeze may be on the horizon for XRP investors, 
potentially serving as the main catalyst for a rally that could push prices 
beyond the all-time high of $3.90. Market analyst Bird made these predictions 
in a recent post on social media platform X (formerly Twitter), highlighting 
key observations from his analysis. Key Liquidity Zones For XRP Bird shared a 
chart that illustrates where leveraged positions—both long and short—are 
concentrated in the market. He explained that the colored bands on the chart 
indicate levels of liquidity, where the potential for forced buying or selling 
could occur due to stop-loss orders and liquidations. Related Reading: Why The 
Dogecoin Price Could Outperform Bitcoin Again The analysis of the altcoin’s 
daily chart heatmap categorizes liquidity into two distinct zones: red, 
signifying deep liquidity, and lighter colors indicating less liquidity. From 
his observations, Bird noted that price movements away from low liquidity 
areas tend to occur rapidly. He explained this process: when prices approach 
zones with significant stop-loss clusters, they often trigger large sell-offs, 
wiping out long positions. Price Targets $4.20 Following these movements, the 
price typically rotates back toward shorts, leading to additional liquidation 
events. Bird pointed out that on Sunday, a number of long XRP positions were 
liquidated. Related Reading: 4 In 5 Hacked Crypto Projects Don’t Bounce Back, 
Expert Says Now, he sees a dense liquidity pocket forming around the $4.20 
mark, primarily from short XRP positions. This situation incentivizes market 
makers to drive prices toward this liquidity to close out those trades, rather 
than moving away from it. As a result, Bird expressed confidence that the 
current XRP price rally is far from over. He believes that a new all-time high 
is imminent, as the potential for a substantial short squeeze looms. At the 
time of writing, the fifth-largest cryptocurrency on the market was trading at 
$2, having briefly dropped to $1.84 earlier on Monday. Featured image from 
DALL-E, chart from TradingView.com

Is A New XRP Price Record Imminent? Analyst Forecast Colossal Short Squeeze Ahead

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The cryptocurrency market has shown choppy and uneven momentum in the past 
week. Bitcoin’s price recently climbed to an eight-week high above $97,000, 
but it has since retraced to trade around the low $90,000s. Dogecoin’s 
movement has mirrored this mixed mood. A brief rally lifted it close to 
resistance around $0.15 last week, but the meme coin has since slid back below 
$0.13, weighed down by profit-taking among investors. Against this backdrop of 
consolidation and short-term corrections, technical analysis shared recently 
by a crypto analyst on X highlighted a setup in the BTC/DOGE cross-pair chart 
that shows Dogecoin is going to outperform Bitcoin if current technical 
patterns play out as expected. BTC vs DOGE: What the Technicals Suggest 
Technical analysis of the BTCUSDT/DOGEUSDT chart shows the two crypto 
heavyweights trading in an ascending channel that has repeatedly tested its 
upper boundary without a convincing breakout, a sign that the uptrend may be 
weakening. In technical trading frameworks, failure to sustain momentum at 
resistance often precedes a reversal. Related Reading: Dogecoin Price Is 
Following This Bullish Signal With A Major Target In this case, the declining 
slope of recent attempts to push higher in the BTC/DOGE ratio indicates that 
Bitcoin may be losing relative strength to Dogecoin in the short term. As it 
stands, the BTC/DOGE pair looks like it is now rejecting at the upper boundary 
of this ascending channel, and the next move is a push downwards. This 
interpretation of the ratio doesn’t comment on the absolute price of both 
cryptocurrencies but only the performance comparison of the two assets. If the 
ratio breaks down below the channel’s lower trendline, then it could be 
interpreted as a signal that Dogecoin is gaining relative performance against 
Bitcoin, and this could cause crypto traders to reallocate capital into the 
relatively stronger asset. What Dogecoin Outperforming Bitcoin Might Look Like 
Bitcoin’s price action over the past several days has been defined by 
volatility around the mid-$90,000 level. Easing inflation fears and the United 
States Supreme Court declining to rule on international trade tariffs helped 
lift BTC close to $97,000 last week. However, the leading cryptocurrency is 
now back to trading around $93,030 at the time of writing. Related Reading: 
Dogecoin RSI Just Entered Historical Oversold Levels Again, Will It Repeat 
2021? Meanwhile, Dogecoin’s trajectory has matched Bitcoin&#8217;s price action and 
the wider crypto market trend. DOGE faced rejection following spikes to 
resistance around $0.15, which prompted a slide back to $0.127, just below the 
$0.13 price level that has acted as a support in recent months. If the 
technical prediction on the BTC/DOGE ratio unfolds as anticipated, the 
outperformance by Dogecoin against Bitcoin could play out in many ways. The 
outperformance could appear not necessarily as DOGE exploding upward in 
isolation, but also as DOGE holding stronger or falling less than Bitcoin 
during corrections. Featured image from Getty Images, chart from 
Tradingview.com

Cryptocurrency price in LKR