Why XRP just soared 10% and crushed the bears

The headline's focus on XRP's 10% surge and the bears' defeat is reflected in a sharp intraday rally that positioned XRP around $1.246 by 9:36 a.m. EDT, up roughly 10% over 24 hours and near the day's high. The move pushed XRP above its short-term moving averages and beyond the upper Bollinger Band as volume picked up. Short liquidations dominated the session, with about $7 million in XRP liquidations during the past 24 hours and roughly $6.03 million of that in short positions, or 86.23% of the total. By comparison, long liquidations were under $1 million, suggesting bears were forced to cover as price advanced. The rebound also coincides with a broader risk-on tilt as tensions in the Middle East cool and crude prices retreat, easing inflation fears. Bitcoin traded above $66,000 and Ethereum hovered near $1,764 as the market brightened, while XRP's ecosystem—Cross-border payments, RLUSD, and the XRP Ledger—maintains investor interest. Binance wallets hold around 2.69 billion XRP, hinting at longer-term storage and reduced selling pressure, though traders remain cautious that a bottom has not been confirmed, with near-term resistance near $1.20 and upside potentially toward $1.62.