2 reasons why XRP is currently rallying, and whether it can last
Main Idea
XRP is experiencing a rally driven by strong buys, whale movements, and derivatives activity, but faces challenges from resistance levels, overbought RSI, and declining network growth.
Key Points
1. XRP recently rallied to $3.56, testing a key resistance near $3.66 after a 60% surge from the $2.17 level.
2. A transfer of 210.6 million XRP ($738M) between unknown wallets has sparked speculation about whale accumulation.
3. The 90-day Spot Taker CVD shows strong 'Taker Buy Dominance,' but over-leveraging or resistance failure could trigger selling pressure.
4. XRP's derivatives market is heating up, with trading volume up 45.49% to $19.41B and Open Interest rising 4.44% to $11.15B.
5. Network growth metrics like transaction count (221K) and new addresses (1,864) have declined, raising concerns about the rally's sustainability.
6. XRP's NVT ratio dropped 31.53% to 166.98, indicating potential short-term speculative activity rather than organic growth.
Description
Speculation rises as XRP tests resistance amid strong buys, whale moves, and on-chain divergence.
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