Ripple's XRP has surged by 30% in the early hours of Tuesday as it attempts to recover from the recent crypto market crash. On-chain data suggests a bearish sentiment in the market, but bulls could potentially push the price above the $3.00 level. XRP investors have seen nearly $2 billion in profits in the past three days, one of the highest amounts in its history. The selling activity has been dominated by whales, leading to a decrease in sentiment and funding rates. Despite the recent recovery, XRP's open interest has not risen significantly, indicating a reluctance among investors to hold large positions in the token. XRP experienced a sharp decline below the $2.00 level on Monday, resulting in significant futures liquidations. The token is now aiming to reclaim the $3.00 level and potentially reach a seven-year high resistance of $3.40. However, it faces resistance from a descending trendline. The Relative Strength Index (RSI) and Stochastic Oscillator suggest increasing bullish momentum. A daily close below the $1.96 support level would invalidate the bullish outlook.



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