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Something Big is Brewing in XRP Futures, Analyst Shares How to Play the Trend
The XRP futures trading scene is witnessing an interesting development, and market analyst Cas Abbé has shared how to play the trend.
Notably, XRP has been steadily climbing since early August, holding its ground even during brief pullbacks. XRP pushed past the $3 mark but has continued to battle the bears at this level. Amid this price action, XRP futures trading recently exploded, confirming heightened speculation and liquidity in the market.
Something Big Brewing in XRP Futures Trading
While strong bullish sentiment can keep prices rising, the market analyst warned that it also creates risk. He explained that markets often follow a familiar pattern in these situations: hype builds, prices push higher, liquidity pools form below the market, and then one sharp move can wipe out overleveraged long positions.
How to Play the Trend
The market commentator noted that this kind of shakeout happens often when too many traders pile in without proper risk control.
Despite his cautious stance, Abbé confirmed that he was not bearish on XRP. Specifically, he believes momentum remains strong and sees a break above $3.4 as a trigger for another leg higher in the short term. At press time, XRP changes hands at $3.26, up 2.44% today. It needs a further 4% push from here to overcome $3.4.
However, for his strategy, Cas Abbé revealed that he typically avoids buying during rapid rallies. Instead, he would wait for a pullback into a solid support zone before entering the market. Notably, this gives him a safer setup for the next move up.
In addition, Abbé also stressed that he pays attention to liquidation clusters as part of the strategy. For context, these clusters are price levels where a large number of traders risk forced closures if the market moves against them. The analyst tracks these areas to see where sudden volatility might hit and position himself accordingly.