🚨 XRP Hits 43-Month Highs, but Is the Rally Losing Steam? 🚨

XRP has taken the crypto market by storm, surging 26.5% in 24 hours to hit $1.95, the highest price since April 2021! However, while the rally has been fueled by excitement around Ripple’s RLUSD stablecoin approval rumors, technical indicators suggest a pullback may be looming. Let’s break it down:

💹 Rally Highlights

🔹 XRP hit a 43-month high on Nov. 30, driven by speculation around NYDFS approval of Ripple’s RLUSD stablecoin in December.
🔹 The surge brought XRP to the resistance of its ascending channel, a level it historically struggles to sustain without correction.

📉 Why a Pullback Could Be Coming

1️⃣ Overbought RSI: XRP’s relative strength index (RSI) on the 4-hour chart is above 80—deep in overbought territory. Similar past readings have led to price drops.
🔹 Potential support levels: $1.75 (channel support) and $1.48 (50-EMA), marking a possible 20% decline.

2️⃣ Whales Cashing Out: On-chain data shows large XRP holders offloaded 30 million XRP after Nov. 24, coinciding with price highs.
🔹 Whale selling at key resistance levels often signals reduced confidence in further gains.

3️⃣ Leverage Risks: XRP’s open interest surged 37% in the derivatives market to a record $3.19 billion.
🔹 Analysts warn this “leverage-driven pump” could lead to forced liquidations if prices drop, exacerbating declines.

⚡ The Road Ahead

$XRP remains a top contender, but technical resistance, whale activity, and high leverage create caution for short-term investors. If prices correct, it could present an opportunity for those waiting on the sidelines.

👉 Will the RLUSD stablecoin rumors fuel more bullish momentum?

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