$XRP

The long liquidation near $1.6276 signals a sudden downside sweep that cleared leveraged longs after a strong run, often marking a temporary bottom zone. Price is now hovering above a crucial support area around $1.58, which has previously triggered strong rebounds. If buyers continue defending this level, a recovery toward immediate resistance at $1.69 is likely, followed by a move toward the next upside target around $1.78 where selling pressure peaked earlier. Selling momentum appears to be cooling after the liquidation event, supporting a corrective bounce scenario. However, a break below $1.58 could expose deeper liquidity near $1.48 before stronger demand steps in. Overall structure leans toward short-term recovery after leverage was flushed. $XRP ‌