XRP's Price Rally May Be Just Getting Started, Despite Correction Risks

XRP has been trading steadily at around $1.37 in recent hours, showing an increase of 1.79% over the past 24 hours.

This comes after a strong August rally, which some technical indicators and institutional activity suggest may be building momentum for a significant next move.

A potential inverse head-and-shoulders formation has added to the bullish case, with the pattern's neckline near $1.68 potentially signaling stronger upward momentum if broken through.

However, the technical picture also points to the possibility of another decline before a larger move higher, with XRP possibly retesting the $1.15-$1.25 zone as part of an ABC corrective structure following its August advance.