XRP rallies after $610M 'Black Swan' liquidation

Core Insights - XRP has demonstrated remarkable strength and recovery following a significant liquidation event, which saw over $610 million in long positions wiped out on October 11 [1] - As of October 13, XRP was trading at $2.56, reflecting a 6.75% increase in the past 24 hours, with a market capitalization exceeding $153 billion [2] - Analysts are divided on XRP's future trajectory, with some identifying a "pivot zone" between $2.376 and $2.394 that could lead to upward momentum if maintained [3] Market Recovery - Despite the historic liquidation, XRP's trading volume surged over 40%, indicating renewed market activity as traders repositioned [2] - The potential for a healthier uptrend is suggested by the clearing of overleveraged positions, with one analyst noting a lack of sellers on centralized exchanges [4] Price Levels and Volatility - Analysts warn that XRP is currently in a thin liquidity region, which may lead to increased volatility in the near term [5] - Holding above $2.50 could open pathways for XRP to reach $3 or higher, with some analysts even targeting the $4 level [6]