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In the current market cycle, XRP has been displaying both positive and negative signals. Its most recent trading activity put nearly a billion XRP coins — 925,865,148 XRP in a 24-hour period — into circulation across wallets and exchanges. This significant shift in liquidity has brought XRP into the public eye and sparked speculation about whether the token is preparing for a new bull run or is bucking sell-side pressure.
XRP's market placement
Just above the 200-day moving average and close to the 100-day EMA, XRP is presently trading at about $2.74 on the charts. Lower highs have been forming since August, and recent price action has been contained within a descending triangle pattern. The 200 EMA is still a powerful support level, but the break below the short-term trendline suggests waning bullish momentum. If this region is not held, XRP may see further declines, with $2.60 serving as one of the most important support levels.
The nearly billion XRP that was exchanged in a single day demonstrates strong usage and liquidity, and on-chain data validates increased network activity. Either major accumulation phases or a redistribution of holdings across exchanges are suggested by large transactions, which are frequently associated with whales and institutional players. Large flows like these usually occur before volatility spikes, which either cause corrections when selling outpaces buying or push XRP higher with renewed demand.
Exhaustion of bears
With the Relative Strength Index (RSI) circling between 38 and 40, XRP is getting close to oversold territory without yet reaching extreme levels. If support levels hold, a technical bounce may be possible. Volume trends, however, are still inconsistent. Recent sessions have been dominated by spikes in sell pressure, suggesting that short-term market sentiment is slightly bearish.
Because of its steady transaction volume and usefulness for cross-border settlement, XRP is still relevant in the altcoin market on a larger scale. Even though XRP is still one of the most actively traded digital assets, traders should exercise caution until a clear break above the descending resistance trendline validates a renewed bullish structure, as evidenced by the nearly billion-dollar daily transfer.
Rebuilding momentum toward $3.20-$3.50 is possible if XRP stays above $2.74-$2.80. The Billionaire Club movement might be regarded as the precursor to a subsequent period of correction if not.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team