XRP Volume Spikes 182%, But Analysts Predict Contrasting Paths Ahead
Trading volume for XRP across spot exchanges has surged by 182% in the short term, but analysts warn that this may not be a bullish sign. According to on-chain data and market analysts, the spike in exchange inflows could indicate heightened speculative activity rather than a decisive accumulation phase.
The price action of XRP remains constrained below its major moving averages, with the token currently hovering around $1.10. Technical analysts are divided on whether the next major move will be a breakout toward $1.30 or a final capitulation toward $0.93.
CasiTrades, a widely followed chartist, identified XRP's recent move as a 'perfect touch' of a key support level she had previously identified. Her Elliott Wave count suggests that the token declined through a descending channel before reaching a green demand zone near $1.08. She predicts a short-term recovery toward resistance at $1.12.
However, CasiTrades has not abandoned her longer-term caution and remains positioned to buy XRP at $0.93, reflecting her view that the token may need one final decline to complete the larger corrective sequence before a sustainable breakout can begin.
Egrag Crypto, on the other hand, identified a classic regular bullish divergence: XRP's price has been printing lower lows while the RSI has been forming higher lows. He emphasizes that this pattern suggests bearish momentum is weakening and that market structure remains the most important factor.