Will the Rally Continue After 111% Jump?
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XRP is back in the spotlight! After a three-year wait, XRP has finally crossed the $1 mark, delighting investors with a remarkable 111% surge in just 15 days.
But the big question is: Can the token keep climbing, or will it soon lose steam?
Let’s dive into the numbers and see what might be next for XRP.
XRP’s Explosive Growth
XRP has been on fire lately.
In the past 24 hours, it’s jumped 28.42%, with an eye-popping 17.38% surge just in the last eight hours. Currently trading at $1.0473, the market is abuzz with excitement.
However, there’s a catch—the Relative Strength Index (RSI) is sitting at 92, indicating that XRP may be in overbought territory. This could signal a potential slowdown, or maybe not.
What’s Driving the Surge?
So, what’s behind this sudden surge in XRP’s price? The broader crypto market is experiencing a rally, with Bitcoin breaking through the $93,000 mark.
Big news events are adding fuel to the fire—rumors of Ripple’s CEO meeting former President Trump and a Federal Reserve rate cut are sparking investor optimism.
Meanwhile, Elon Musk’s new leadership of Dogecoin is sending ripples across the market.
Despite all the hype, XRP still has a long way to go to reach its all-time high of $3.84, set seven years ago. Right now, its market cap stands at a solid $59.54 billion, but analysts are eyeing potential targets of $2 or even a new record.
Whale Activity and Market Sentiment
What’s especially intriguing is the behavior of market whales. They’re flooding the market, suggesting that the rally may still have legs.
Data reveals a heavy concentration of short trades above $1, particularly near resistance zones at $1.1974, $1.3910, and $1.5941.
