Is XRP Oversold After 113% Weekly Gain?


Crypto investors are interested in Ripple's XRP cryptocurrency after its huge increase last week. From $1.28 retreat support, XRP recovers 118% to $2.785. ETF Fillion, whale accumulation, and rising volume suggest a lengthy rise. Will it last?

XRP just surpassed Tether in market valuation at $160.7 billion. The 24-hour asset volume is $49.7 billion, up 383% from yesterday.

XRP Price Analysis: $3+ Rounding Bottom Breakout

XRP has risen 466% from $0.49 to $2.78 just last month. The dynamic rise was driven by market growth, the U.S. section outcome, reports that the SEC may dismiss the Ripple litigation, and ETF hype.


Price usually falls gradually, establishing a rounded trough, then rises steadily, generating a “U” shape on the chart.

The coin price broke out of the rounded bottom pattern's $1.96 neckline on December 1, signaling a strong trend change. Without volume weakening, the cryptocurrency may break $3.

If the pattern persists, the asset might rebound to $3.62, a 38.2% increase.

According to Alichart's tweet, Ripple whales bought 160 million XRP coins worth $380 million over the weekend. Whale activity has surged sharply, indicating major holders are more confident and accumulating.

Whale purchasing suggests a protracted rise, but the momentum indicator surges to the daily or mid-term overbought zone. XRP price may temporarily retreat to recover bullish momentum.

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