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XRP’s 27% Surge Looks Unlikely – Yet Here’s Why HODLing Might Pay Off
A bullish showdown is brewing for XRP, setting the stage for its next big breakout. However, a 27% rally looks unlikely at this point in time.
Ripple [XRP] has dropped 27% from its $3.40 peak in less than a month, yet the RSI didn’t flash an ‘extreme’ overbought level. Clearly, significant gains were realized during this period, forcing weak hands to exit as the market turned volatile, creating a demand-supply imbalance.
Now, XRP outflows have surged to 123 million as the price plummeted to $2.30, down 26% in a week. Is this the start of a new cycle or just another bull trap?
Source: ambcrypto.com
