A company that is changing the way the world mines bitcoin

CoinGape 2025-03-10 07:33:41

XRP Price Analysis as Active Addresses Hit 1.15M Record High – Will Ripple Rebound?

XRP price may be poised for a massive rebound amid a surge in network activity. The number of weekly active addresses has surged to a fresh record high, indicating heightened interest among traders. Despite this spike, XRP price is still struggling to gain momentum. As market interest rises, can XRP price stage a recovery? XRP price today trades at $2.19 after a nearly 6% drop in 24 hours. XRP Price Hints at a Rebound as Weekly Active Addresses Hit ATH Data from Santiment shows that the number of weekly active XRP addresses has increased significantly over the past week. These addresses have surged to 1.15M, indicating high network usage and market interest. XRP Weekly Active Addresses This rise has also coincided with a surge in transaction activity. According to market analyst ScottMelker, XRP transactions have skyrocketed to $5 billion within 24 hours. At the same time, wallet activity has increased by more than 600%. The surge in active addresses and transaction count may precede a rebound for XRP price due to rising interest. However, such a rebound is dependent on whether this rise in network activity is sustained. Short Sellers Increase Positions on XRP Data from Coinglass shows a massive increase in short positions on XRP. This is after a sudden spike in negative funding rates, which points towards increased pressure from short sellers betting that XRP price will drop further. XRP Funding Rates If the funding rates remain negative for an extended period, it increases the risk of a short squeeze. If Ripple price makes a sudden recovery, and these short sellers are forced to close their positions, it could accelerate the upward momentum. XRP Price Retests Multi-Month Support as Sell Signal Emerges XRP price has dropped to retest a multi-month support level at $2.14. Ripple has bounced from this support price before, but if sell-side pressure continues, it may lead to a breach of this critical level. The MACD line has crossed below the signal line and formed a sell signal, which may push Ripple price lower. However, the Stoch RSI suggests that Ripple may be oversold, which could hint at possible seller exhaustion and trigger a reversal. For Ripple price to avert a drop below the $2 psychological level, it needs to flip critical resistance at $2.60. If it makes a decisive breakout above this level, it could pave the way for XRP price to rally past $3 . XRP/USDT: 1-day Chart The rising network activity suggests that market interest in Ripple is rising. If this surge leads to traders accumulating XRP during the dip , it could trigger an XRP price recovery. The post XRP Price Analysis as Active Addresses Hit 1.15M Record High – Will Ripple Rebound? appeared first on CoinGape .

Наиболее читаемые новости

dogwifhat (WIF) Price Prediction March 2025,...
2025-03-10
Shiba Inu Push For Inclusion In Trump’s Crypt...
2025-03-10
Financial Giant Robinhood Agrees to Pay Thous...
2025-03-10
XRP Continues To Outpace Bitcoin in Weekly In...
2025-03-10
Binance Blocked Market Maker of GPS and SHELL...
2025-03-10
Crypto ETPs Face 4th Consecutive Week of Outf...
2025-03-10
Bitfinex Alpha | Market Losses Rise as Bulls...
2025-03-10
Dogecoin Price Prediction 2025, 2026 – 2030:...
2025-03-10

Связанные новости

Прочтите Отказ от ответственности : Весь контент, представленный на нашем сайте, гиперссылки, связанные приложения, форумы, блоги, учетные записи социальных сетей и другие платформы («Сайт») предназначен только для вашей общей информации, приобретенной у сторонних источников. Мы не предоставляем никаких гарантий в отношении нашего контента, включая, но не ограничиваясь, точность и обновление. Никакая часть содержания, которое мы предоставляем, представляет собой финансовый совет, юридическую консультацию или любую другую форму совета, предназначенную для вашей конкретной опоры для любых целей. Любое использование или доверие к нашему контенту осуществляется исключительно на свой страх и риск. Вы должны провести собственное исследование, просмотреть, проанализировать и проверить наш контент, прежде чем полагаться на них. Торговля - очень рискованная деятельность, которая может привести к серьезным потерям, поэтому проконсультируйтесь с вашим финансовым консультантом, прежде чем принимать какие-либо решения. Никакое содержание на нашем Сайте не предназначено для запроса или предложения