XRP Surges 13% in 24 Hours, Exceeding $1.28

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2 hours ago

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Market Sentiment Recovery: XRP surged 13% within 24 hours, surpassing $1.28 for the first time in two weeks, indicating renewed interest from market players and reflecting a shift in market sentiment towards optimism.
Large Holder Accumulation: Wallets holding at least 1 million XRP control 74.1% of the total supply, having increased their holdings by 1.53 billion XRP over the past six months, suggesting strong confidence from major investors in the token's long-term potential, thereby providing market stability.
Ripple Ecosystem Expansion: Ripple's ongoing advancements in cross-border payments have garnered market attention, with new applications on the XRP Ledger enhancing the token's utility and perceived value, indicating broader acceptance in the corporate payment sector.
Institutional Investor Interest: XRP-focused ETFs have seen greater net inflows than Bitcoin and Ethereum over the past five weeks, signaling increasing institutional interest in XRP, which may support sustained price increases.

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Technical Analysis for XRP

Technical Sentiment Analysis for XRP (XRP). As of , XRP (XRP) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

XRP (XRP) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.868	0.978	1.073	1.183	1.279	1.389	1.484
Fibonacci	0.978	1.057	1.105	1.183	1.262	1.31	1.389

About XRP

Launched in 2012, the XRP Ledger (XRPL) is an open-source, permissionless and decentralized technology. Benefits of the XRP Ledger include its low-cost ($0.0002 to transact), speed (settling transactions in 3-5 seconds), scalability (1,500 transactions per second) and inherently green attributes (carbon-neutral and energy-efficient). The XRP Ledger also features the first decentralized exchange (DEX) and custom tokenization capabilities built into the protocol. Since 2012, the XRP Ledger has been operating reliably, having closed 70 million ledgers.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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