XRP Cryptocurrency Explodes 30% Today and Analyst Warns of Price Correction
- XRP Price Explosion Today.
- XRP cryptocurrency surpasses Solana and USDT.
- Alert of possible price correction.
Ripple’s XRP is currently experiencing a euphoric moment in the cryptocurrency market, with its price rising rapidly and significantly, triggering speculation and expectations. In recent days, the digital currency has broken through several resistance barriers, leading an impressive bullish rally. At the time of publication, the price of XRP is now quoted at $2,33, up 25% in the last 24 hours.
In a remarkable performance, XRP has seen a 30% surge today alone, bringing its gains to 70% this week and a staggering 360% in the past month. This robust growth is attributed to a number of strategic factors and recent developments.
Among the catalysts for XRP's appreciation, the departure of Gary Gensler in January 2025, the imminent announcement of a stablecoin launched by Ripple and the expectation of ETFs that are scheduled to be launched in 2025 stand out. Such events have increased investor interest and confidence in the cryptocurrency.
The strong buying flow has pushed XRP’s price to around $2,49, pushing the cryptocurrency’s market cap to the point where it surpasses Solana and USDT. This means XRP is once again the third-largest cryptocurrency by market cap.
However, amid the enthusiasm among XRP investors, there are also some cautious voices. An analyst at CryptoQuant, which specializes in the cryptocurrency market, has issued a warning about potential corrections in the price of the coin. In a December 1 post on the X platform, Maarten Regterschot noted a significant increase in open interest for XRP, indicating that derivatives positions have increased sharply.
???? $ Xrp is experiencing a Leverage-Driven Pump!
Open Interest is up 37% already—watch for volatility. The last similar event led to a -17% drawdown.
Stay sharp, manage risk accordingly. #XRP #Crypto #Ripple #Onchain #Futures pic.twitter.com/Femb2xQKDH
— Maartunn (@JA_Maartun) November 29, 2024
“Open Interest is already up 37% — watch the volatility. The last similar event led to a -17% drawdown,” Maarten warned, adding a prudent piece of advice: “Stay alert and manage risks accordingly.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
New spot margin trading pair — HOLO/USDT!
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn
- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.
OPEN has dropped by 189.51% within 24 hours during a significant market pullback
- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.
New spot margin trading pair — LINEA/USDT!
Trending news
MoreCrypto prices
More
