As the second quarter draws to a close, the XRP price action may be positioning itself for an unexpected breakout. The altcoin has remained below the $2.50 threshold for over a month, yet new technical indicators suggest growing optimism among market participants. While the broader cryptocurrency market continues to trade in a range-bound pattern, XRP is quietly accumulating bullish momentum beneath the surface. This analysis delves into the details.

The liquidation heatmap for XRP reveals a significant concentration of liquidity around the $2.20 price level. Currently, the token is trading at $2.14, which places it just 2.8% below this liquidity cluster. Liquidation heatmaps serve as visual aids for traders to pinpoint price points where large clusters of leveraged positions are likely to be liquidated. These maps emphasize areas of high liquidity, often color-coded to indicate intensity, with brighter zones signifying greater liquidation potential.

These liquidity zones tend to attract price movements, as markets naturally gravitate towards them to activate stop orders and establish new positions. For XRP, the liquidity cluster near the $2.20 mark indicates substantial trader interest in purchasing or closing short positions at that price. If bullish momentum strengthens, this configuration raises the probability of a short-term rally.

Moreover, the decrease in XRP's Network Realized Profit\/Loss (NPL) reinforces this optimistic perspective. On a 30-day moving average, it stands at 70.27 million, declining by 11% over the past week.

The NPL quantifies the overall profit or loss investors experience when they transfer their coins. A dip into negative territory implies that more holders are shifting their tokens at a loss rather than a gain. Historically, this trend alleviates selling pressure, as investors typically refrain from disposing of their assets while they are underwater. In XRP's situation, the recent NPL decline hints that most holders are awaiting a recovery instead of crystallizing losses.

At the moment, XRP is trading at $2.13. Should buying pressure increase and the altcoin break free from its sideways trajectory, it might surge toward $2.29.

A successful penetration of this price level could position XRP for a rally towards $2.45.

Conversely, if selling pressure escalates, the XRP token price might prolong its underwhelming performance and descend to $2.08. If demand remains weak at this juncture, the altcoin could plummet further to $1.99.

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