After a sharp drop in the cryptography market, all eyes are on XRP because of its impressive recovery in the past hours.
The 55% XRP rally recovers recent fall
According to available data, XRP, which had experienced a massive price drop of 35% in the last 48 hours, experienced a significant gain of more than 55% and formed one of the largest upward candles during the two last years.
Looking at the inversion of prices, XRP seems bullied. In addition, this rally does not seem to stop easily, while the President Pro-Crypto of the United States, Donald Trump, interrupted the price on Mexico, which he had previously announced on his handle X.
After the update, the global cryptocurrency market started to recover, notably Bitcoin (BTC), which has experienced a price reversal of more than 12% in the last 12 hours, as well as other crypto- currencies.
$ 80 million in the XRP influx
In the midst of this record reversal of prices, long -term holders, investors and whales who recently bought the DIP poured their chips on exchanges, as reported by the Coiginglass chain analysis company.
The Flow / Overtling Spot data reveal that exchanges have experienced an influx of more than $ 80 million from XRP in the last 24 hours. This substantial influx in the midst of this record reversal seems to be a potential sale for for -profit booking and has the potential to cause sales pressure and an additional drop in prices.
XRP technical analysis and key levels
According to an expert technical analysis, XRP seems bullish and seems to form a large spark plug. For the rally to continue, XRP must close more than $ 2.70 or $ 2.65. If this happens, a new summit of all time can be on the horizon.
If this happens, there is a strong possibility that we can see a new summit of all time for XRP. On the positive side, with the relative force index (RSI) at 44, it seems that XRP has an important place to attend an upward rally.
