XRP Suddenly Recovers 4%, Here's Likely Trigger

XRP bounces back by 4%, here's likely reason $XRP XRPArmy XRPCommunity XRPHolders

The bearish performance so far has enticed many traders to execute short positions to take advantage of the falling prices. The likelihood of a short squeeze remains as short sellers are forced to close their positions once buying pressure reappears.The week's passage of comprehensive crypto legislation by the European Parliament, the first major region to do so, represents one potential move in favor of cryptocurrencies.

Bitcoin dominance at the time of writing is at 47.23%. According to TradingView data, the Bitcoin dominance rate reached 48% in the first quarter and has remained there thus far this month. Historically, these have often presented an opportunity for altcoins.

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