The recent surge in the price of Ripple indicates strong bullish momentum, but there are signs of an impending correction due to overbought conditions in the market. After consolidating near $0.6 for some time, Ripple experienced a 158% rally, surpassing key moving averages. However, this rally reached a yearly high of $1.3, which could lead to selling pressure. The overbought conditions suggest that Ripple may undergo a corrective consolidation phase in the range of $0.9-$1.3 as the market absorbs the recent rally. In the short term, a retracement towards the $0.9-$1.0 region is likely, with further correction potentially targeting Fibonacci retracement levels at $0.88 and $0.78. This correction phase is important for maintaining a healthy uptrend and avoiding overextension, paving the way for potential continuation of the bullish trend.



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