XRP Rally Hits Overbought Territory: Time to Take Profits?

XRP has seen a rapid price increase over the past two weeks, moving from under $1 to around $1.50.

The token's market cap is now above $90 billion, with daily volume reaching $22.45 billion.

Spot ETF inflows have added another layer of demand to XRP, with $18.38 million in net inflows on August 21 and weekly inflows approaching $40 million.

However, the rally appears to be getting help from both real demand and increasingly aggressive derivatives positioning, with XRP futures open interest jumping 34.49% over seven days.

The technical picture is also warning of a potential reversal, with daily RSI near 85.4, deep into overbought territory.