XRP Price Faces Sell Wall as Chart Points to $1.45 if Resistance Breaks

XRP is testing a critical resistance zone between $1.34 and $1.35, a break above which could trigger a short squeeze and target $1.45, supported by significant liquidation clusters above current prices.

Despite short-term bullish signals from reclaimed demand zones and rising open interest, XRP remains within a long-term falling channel, indicating that a sustained breakout above resistance is necessary to invalidate the broader bearish trend.

The confluence of rising open interest and negative funding rates during XRP's recent price drop suggests increased bearish sentiment in derivatives markets, which could be unwound if price breaks higher, potentially accelerating upward momentum.

While the immediate price action shows potential for a short-term rally towards $1.45 if resistance breaks, traders should monitor the $1.28 support level, as a break below it would signal a continuation of the deeper consolidation range.