CandleFocus

XRP price surges 15% in 24H as network growth drives rally, but will it last?

XRP's price has increased by over 15% in the last 24 hours, reaching a record high market cap of $155.69 billion. This rally is driven by retail investors rather than whales, but on-chain metrics indicate a decline in bullish sentiment. Whale activity suggests that large investors are cautious and hesitant to add positions, limiting the strength of the rally. Technical analysis also shows a bearish crossover, indicating a downward direction for XRP's price. The on-chain profit-to-loss metric and daily profit-to-loss ratio suggest that traders are not aggressively entering long positions. Institutional investors may increase liquidity and push XRP prices higher if positive developments occur with regulatory bodies. However, the token's ability to sustain a positive rally will depend on overcoming the challenges indicated by on-chain metrics.

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