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$XRP 's Setback: WILL IT RALLY BACK? On-Chain Data Shows Optimism! 📈💥
After a 400% surge last month,
#XRP is facing some hurdles. Despite the recent dip, on-chain data remains optimistic—is a rally coming soon? Let's break it down! 🔍💣
Key Points:
XRP’s Recent Setback: After testing $2.58, XRP fell by 11% 🛑, trading at $2.4 on Wednesday.
Ripple’s RLUSD Stablecoin: Contrary to rumors, RLUSD won’t launch on Wednesday, pushing expectations back 😕💔.
$2.58 Resistance: XRP continues to face selling pressure at $2.58, but there's hope for a recovery if it can break above it 💪.
All-Time High Target: XRP is testing the $3.57 level, its ATH. Can it push through and set a new record? 🚀✨
Why XRP May Rally:
1. On-Chain Optimism: Despite the dip, XRP’s financing rate and weighted sentiment show room for price rise, suggesting bullish potential 📊🔮.
2. Stable Momentum: The market isn't overheated, lowering the risk of a significant downturn 💡.
3. Stablecoin Updates: Ripple’s RLUSD will soon be launched, with Coinbase and other exchanges preparing for its debut 🏦.
XRP’s Next Move:
🔴 Support Levels: $1.96 could act as support if the dip continues, near the 50-day SMA 📉. 🟢 Bullish Breakout: A large move over $2.58 might push XRP to a new ATH of $3.57 💥📈.
With XRP's weighted sentiment low and momentum indicators testing, it could be primed for a bounce—keep an eye on it! 👀💥
#XRPReclaimsTop3 #XRPTrends #CryptoMomentum #Ripple 🚀