- XRP’s price action remained fragile, however, the XPR Ledger network is fundamentally strong.
- Will bulls regain control, or is a deeper correction inevitable?
Among high-cap assets, Ripple [XRP] surged 34% in a single day, forming a bullish engulfing candle – a sign of strong accumulation.
However, a sharp 18.79% drop the next day wiped out most gains.
Now, XRP is battling to hold the psychological $2.00 level, with a recent “dip” sparking concerns of a slide toward $1.50, a key support zone.
With active addresses down 50%, MACD turning bearish, and market sentiment weak, will XRP face a deeper correction, or will FOMO-driven “hype” turn the current price into a key re-entry point?
XRP at a critical juncture: Defend or collapse?
Unlike most assets, Ripple has retained its post-election gains, with a strong cohort of HODLers still in net profit.
A well-defined support zone on the 1D chart continues to uphold XRP’s stability above $2, even as broader market turbulence pushes multiple altcoins below key levels – a strong show of resilience.
Source: TradingView (XRP/USDT)
Additionally, exchange outflows surged, with 99 million XRP withdrawn at $2.30 – a 94.12% spike from the previous day.
This aggressive accumulation is helping absorb sell-side pressure in perpetual markets, despite high de-leveraging and increased short positioning.
Key levels to watch
In the near term, a break below $2 remains unlikely, as HODLer conviction, strong retail inflows, and resilient technical support continue to uphold Ripple’s structure.
Moreover, whale accumulation remains aggressive, with wallets holding 100M–1B XRP injecting 2 billion XRP over the past week. This aligns with XRP’s recovery from $1.98 support.
Source: Santiment
This accumulation is mitigating sell-side pressure, reinforcing market confidence despite prevailing volatility and short-seller activity.
If this trend continues, Ripple could not only hold above $2 but also trigger a short squeeze. This would force liquidations and fuel further upside momentum.
In all, Ripple’s current positioning presents a strong “buy-the-dip” opportunity, potentially setting the stage for its next leg higher.
Credit: Source link
