XRP (XRP, Ripple) has staged a powerful rebound, absorbing more than $11 billion in capital in just a single day amid a broader market sell-off. After plunging to the $1.15 level and pushing market fear to extremes, aggressive bargain-hunting inflows drove both market capitalization and price into double-digit gains, drawing significant attention from investors.
According to cryptocurrency-focused media outlet Finbold on February 7 (local time), XRP’s market capitalization surged from $77.86 billion to $89.14 billion in just one day. This reflects an inflow of $11.28 billion within a single trading session, while the price climbed roughly 13% over the past 24 hours to trade around $1.46, quickly recouping a large portion of the recent losses.
The rebound is widely attributed to aggressive accumulation by whale investors. Data from blockchain analytics firm Santiment shows 1,389 large transactions exceeding $100,000 on the XRP Ledger, marking a four-month high. In addition, the number of unique active addresses jumped to 78,727 in just eight hours, the highest level of network participation in six months, suggesting that a wave of investors viewed the price drop as a buying opportunity.
The outlet noted that the rally appears less driven by XRP-specific catalysts and more characteristic of a relief rally stemming from improved sentiment across the digital asset market. As major cryptocurrencies led by Bitcoin (BTC) recovered on oversold rebounds, the more volatile XRP appears to have ridden the wave, posting a comparatively sharper upside move.
However, technical indicators still point to a fragile trend for XRP. The current price remains well below the 50-day simple moving average (SMA) at $1.92 and the 200-day SMA at $2.42, indicating that it has yet to fully escape its longer-term bearish trend. Reclaiming these key resistance levels is essential for a meaningful trend reversal.
Momentum indicators also suggest a cautious wait-and-see stance. The 14-day Relative Strength Index (RSI) stands at 37.9, having moved out of oversold territory but still remaining below neutral. This signals that while selling pressure has eased, buying momentum is not yet strong enough to drive a sustained rally, implying that the market may be pausing to assess further upside catalysts.
*Disclaimer: This article is provided for informational purposes only and does not constitute investment advice. The publisher bears no responsibility for any investment losses incurred based on this information.*
<저작권자 ⓒ 코인리더스 무단전재 및 재배포 금지>
|
  많이 본 기사
English 많이 본 기사
최신기사
|
