XRP Hits Key Support Levels Following Minor Correction: What To Expect Ahead?

CoinMarketCap11-17

Date: Sun, Nov 17, 2024, 05:45 AM GMTXRP has been riding a wave of bullish momentum ever since Donald Trump’s victory in the U.S. presidential election on November 5. The token has skyrocketed by over...

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The token has skyrocketed by over...</p>\n\n<a href=\"https://coinmarketcap.com/community/articles/67398b25660a5424844d1d47/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4006","symbol_name":"钢铁","start_time":0,"source_url":"https://coinmarketcap.com/community/articles/67398b25660a5424844d1d47/","article_id":"2484427501","we_media_id":null,"thumbnails":["https://academy-public.coinmarketcap.com/srd-optimized-uploads/803cd74475bf4abd946ec2937916ae1f.png"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2484427501","pubTimestamp":1731824422,"sourceInfo":{"source_id":"coinmarketcap_highlight","name":"CoinMarketCap"},"weMediaInfo":null,"summary":"Date: Sun, Nov 17, 2024, 05:45 AM GMTXRP has been riding a wave of bullish momentum ever since Donald Trump’s victory in the U.S. presidential election on November 5. The token has skyrocketed by over 100% in just under two weeks, fueling excitement across the crypto community. This surge has been powered by a combination of Ripple’s recent legal wins and speculation that SEC Chairman Gary Gensler might step down.In a significant milestone, in the past 24 hours, XRP crossed the $1 mark for the first time since November 11, 2021. However, after reaching a high of $1.27, the token faced a slight correction and is now trading at $1.02.Source: CoinmarketcapWhat’s Driving the Correction?","collect":0,"end_time":0,"defaultTopTitle":"coinmarketcap.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4006":"钢铁","BK4588":"碎股","BK4516":"特朗普概念","X":"美国钢铁","BK4520":"美国基建股","BK4585":"ETF&股票定投概念"},"translate_title":"XRP在小幅调整后触及关键支撑位：未来会发生什么？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"X":1},"content_text":"Date: Sun, Nov 17, 2024, 05:45 AM GMTXRP has been riding a wave of bullish momentum ever since Donald Trump’s victory in the U.S. presidential election on November 5. The token has skyrocketed by over 100% in just under two weeks, fueling excitement across the crypto community. This surge has been powered by a combination of Ripple’s recent legal wins and speculation that SEC Chairman Gary Gensler might step down.In a significant milestone, in the past 24 hours, XRP crossed the $1 mark for the first time since November 11, 2021. However, after reaching a high of $1.27, the token faced a slight correction and is now trading at $1.02.Source: CoinmarketcapWhat’s Driving the Correction?The pullback appears to be driven by retail traders taking profits. According to on-chain data from Santiment, large XRP holders, or “whale” and “shark” wallets holding between 1 million and 100 million tokens, have been on a massive accumulation spree. This group added 453.3 million XRP (worth $526.3 million) in the past week.Source: @santimentfeed (X)In contrast, smaller wallets holding under 1 million XRP have dumped 75.7 million tokens (worth $87.9 million) during the same period. This suggests that while retail traders are cashing out, whales are taking the opportunity to buy the dip.What’s Next for XRP?With XRP now trading at a crucial support level of $1.00, the next move could go in one of two directions:Bullish Reversal: If the support holds, XRP could quickly rebound to test resistance levels at $1.27 and potentially $1.35.Further Correction: If the $1.00 level fails to hold, XRP might dip further to the next support at $0.9378 before attempting a recovery.This correction could provide opportunities for both short-term traders and long-term holders to strategize their positions.As the market continues to react to macroeconomic and crypto-specific factors, XRP's next moves will be closely watched by traders and investors alike.Disclaimer: This article is for informational purposes only and does not constitute financial advice. 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