XRPUSDT is currently trading at $3.48, only 4% away from its all-time high. Over the past week, exchange wallets saw an influx of nearly 450 million XRP, valued at more than $2.81 billion. This spike in supply indicates that holders are moving their assets to sell, usually a bearish indicator in market cycles.Despite the proximity,
XRPUSDT price is showing signs of weakness and is clinging to the $3.38 support level. Without renewed buying interest, this support may not hold much longer.If investor selling continues,
XRPUSDT could fall through $3.38 and test the $3.00 support. A drop to this level would erase the recent gains and confirm a near-term bearish reversal. The loss of $3.00 could signal a longer consolidation phase or deeper correction.However, if market participants absorb the sold supply and restore demand,
XRPUSDT could rebound quickly. In this scenario, the altcoin might surpass $3.66, breach $3.80, and aim for $4.00. Such a move would invalidate the bearish outlook and set a new all-time high.
Aaryamann Shrivastava | On-Chain Analyst
BeInCrypto - beincrypto.com/author/aaryamann-shrivastava/
BeInCrypto - beincrypto.com/author/aaryamann-shrivastava/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Aaryamann Shrivastava | On-Chain Analyst
BeInCrypto - beincrypto.com/author/aaryamann-shrivastava/
BeInCrypto - beincrypto.com/author/aaryamann-shrivastava/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.