XRP Price Spikes To $1.14 On Short Squeeze

Ripple – XRP Price Spikes to $1.14 on Short Squeeze

Ripple (XRP) is up by about 5% in 24 hours to $1.14, outperforming a rising broader market, primarily driven by a short squeeze ignited by a key technical breakout.

The token trading volume eased by about 12% on the day, with transaction value printing at about $$1.7 billion, and market cap is up, settling near $71 billion.

XRP is forecast to hit $1.62 by the end of 2026, and a 7-day price target is set at $1.20, which analysts say the token can easily breach if momentum persists.

XRP’s narrative is strengthening through institutional-grade development and holder accumulation, even as exchange liquidity tightens.

The token price reaction followed a cascade of short liquidations triggered when XRP broke out of a month-long downtrend and key resistance near $1.10.

According to technical traders, XRP’s break above a descending trendline and the $1.075–$1.10 resistance band triggered significant short liquidations.

Analysts noted that XRP shorts accounted for over 80% of the related losses during the move. This forced buying amplified the rally. The move was accelerated by leveraged traders being forced to cover losing bets, creating a feedback loop of buying.

Ripple’s scheduled 1 billion XRP escrow unlock saw about 70% of tokens re-escrowed, limiting net new supply and helping it be absorbed without a price shock.

Concurrently, data showed significant exchange outflows, interpreted as whale accumulation. Underlying demand absorbed potential sell pressure, while a positive macro backdrop provided tailwinds.

The immediate bullish case hinges on XRP holding the $1.08–$1.10 zone as support. A concrete upcoming catalyst is the U.S. Senate vote on the CLARITY Act, expected in late July or August 2026, which could impact regulatory sentiment.

The structure has improved, but confirmation requires a sustained break above the next key resistance. A close above the Fibonacci 38.2% retracement level at $1.18 would signal stronger bullish momentum, while losing $1.08 would invalidate the near-term uptrend.

The combination of a technical breakout forcing liquidations, supportive on-chain flows, and a rising market creates a credible recovery setup. XRP Gains Momentum as Ripple Unites Credit, Payment, Tokenisation