LONDON (IT BOLTWISE) – After a prolonged downtrend, XRP is showing signs of recovery. Network activity has increased significantly, indicating a possible trend reversal. On October 17th, XRP payment volume increased by over 100%, indicating growing interest from institutional players.
Today’s daily deals at Amazon! ˗ˋˏ$ˎˊ˗
The cryptocurrency XRP, which has suffered from a strong downtrend in recent weeks, is now showing signs of recovery. Recent on-chain data suggests a significant increase in network activity, indicating a possible trend reversal in the market. On October 17th, XRP payment volume saw an increase of over 100%, bringing it to over 1.33 billion XRP. This is one of the highest levels this month and could be an indicator of an impending market recovery.
Such a sharp increase in transaction volume often occurs before significant market movements and indicates increasing liquidity circulation. This could indicate a revival of interest among network users. Despite a sharp decline from $3.20 to around $2.45, the price of XRP has stabilized, indicating a possible decrease in selling pressure.
Technical indicators such as the Relative Strength Index (RSI), which has stabilized in the 35-37 range, as well as a decline in bearish volume, support the thesis of a bottom forming in the $2.30-$2.40 range. This suggests oversold conditions that could signal a pause in the downtrend as buyers begin to accumulate.
A further rise above the $2.65-2.70 level could mark the start of an upward move towards $3.00, especially if short positions are unwound. The increase in on-chain payment volume also suggests increased activity from institutional players, who are typically more active during market cycle transitions. Despite XRP’s recent plunge, this could support the thesis that the downtrend is not yet over.
*Order an Amazon credit card with no annual fee with a credit limit of 2,000 euros! a‿z
Bestseller No. 1 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 2 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 3 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 4 ᵃ⤻ᶻ «KI Gadgets»
Bestseller No. 5 ᵃ⤻ᶻ “KI Gadgets”
Please send any additions and information to the editorial team by email to de-info[at]it-boltwise.de. Since we cannot rule out AI hallucinations, which rarely occur with AI-generated news and content, we ask you to contact us via email and inform us in the event of false statements or misinformation. Please don’t forget to include the article headline in the email: “XRP shows signs of recovery: network activity increases”.