Quick overview

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XRP is now priced at $2.20 after losing over 10% this week. The market’s focus has shifted to whether this situation may signal a brief recovery. The asset is now near technical levels that have previously triggered rebounds, and trading volume remains high. According to the Stochastic RSI, recent charts indicate that XRP is entering oversold territory, with the current weekly reading at 2.73, which is within the lower range.

Historically, sharp upward movements—such as gains of 53%, 216%, and 591%—have often followed previous dips to this level. Traders are watching to see if the price structure can change in favor of a bounce, even though the current reading suggests less downward momentum. A bullish divergence has appeared on the daily chart, as the RSI shows higher lows while the asset makes lower lows. This signal, shared by EGRAG CRYPTO, often emerges when downward pressure begins to ease. However, for confirmation, XRP would need to rise and regain its previous strength.

 

Data from CryptoQuant shows that XRP experienced significant inflows to Binance over the past month. Exchange wallets saw substantial increases in deposits on October 25 and November 15, with the largest one exceeding 70 million tokens. These occurrences took place during a period of steady price decline, raising concerns about potential additional selling pressure. Typically, increased inflows to exchanges can bring about heightened selling pressure. The timing of the largest inflow suggests that some holders may have decided to sell their positions, contributing to the current correction.

 

Ripple CTO David “JoelKatz” Schwartz has recently made remarks indicating that the network’s next phase might require reevaluating how value flows across its infrastructure. This discussion has drawn fresh attention to the long-established design of the XRP Ledger. It began as developers and community members examined the growing role of the XRP Ledger (XRPL), fueled by new tokenization use cases and the ongoing expansion of decentralized finance applications.