
Jakarta, Pintu News – The cryptocurrency market recently witnessed a significant price spike in Ripple , which caught the attention of many market participants. With the price increase reaching almost 60% from the $2.17 level to $3.56, many are wondering what is driving this rise and whether this momentum will last.

A massive transfer of 210.6 million Ripple (XRP) tokens, worth $738 million, between unknown wallets has sparked speculation among traders. The movement could indicate accumulation by large holders or perhaps an unseen distribution scheme.
While these transfers support the general bullish narrative, the anonymous nature of the transaction adds an element of caution. On the other hand, Ripple (XRP) is still consolidating below key resistance, which could either reinforce buying pressure or indicate a potential cool down.

Ripple (XRP) is currently facing strong resistance near the $3.66 zone after a sharp rally. However, the Stochastic RSI is showing overbought signals, indicating that the bullish momentum may have started to fatigue. Also, the price consolidation below the resistance indicates market uncertainty.
Although the moving averages still indicate an uptrend, failure to cross $3.66 decisively could lead to a short-term retracement. Therefore, the daily closes of the next few days will largely determine whether the bulls still control the market or are losing steam.

On-chain metrics for Ripple (XRP) show a significant decline, which calls into question the sustainability of the recent rally. The number of transactions has dropped to 221,000, while network growth has plummeted to just 1,864 new addresses. This decline in activity and onboarding of new users reduces confidence in long-term demand.
Although prices are still high, the decline in fundamental usage suggests that momentum may be losing support. Unless these metrics improve, Ripple’s (XRP) rally may soon face pressure from weakened network participation.

With multiple factors affecting the price of Ripple (XRP), investors and traders should remain vigilant to the changing market dynamics. Analyzing both technical and fundamental factors will be crucial in determining whether this price spike is the start of a larger uptrend or just a temporary fluctuation. Investment decisions should be based on thorough analysis and a good understanding of the risks involved.
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