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 closely monitoring the price structure to see if it can change in favor of a rebound, even though current indicators suggest less downward momentum. A bullish divergence has appeared on the daily chart, with the Relative Strength Index (RSI) showing higher lows while the asset itself makes lower lows. This signal, noted by EGRAG CRYPTO, often emerges when downward pressure starts to ease. However, for confirmation, XRP would need to rise and regain its previous strength.

Data from CryptoQuant indicates 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 single deposit exceeding 70 million tokens. These events occurred during a period of steady price decline, raising concerns about potential additional selling pressure. Typically, increased inflows to exchanges can lead to heightened selling pressure. The timing of the largest inflow suggests that some holders may have sold their positions, contributing to the current correction.

Ripple’s CTO, David “JoelKatz” Schwartz, said the network’s next phase may require a reevaluation of how value flows across its infrastructure. This discussion has drawn renewed attention to the design of the XRP Ledger (XRPL). Developers and community members are examining the growing role of the XRPL, driven by new tokenization use cases and the ongoing expansion of decentralized finance applications.