The post Enormous 100% XRP Spike: Market Direction Flip? appeared on BitcoinEthereumNews.com. XRP’s liquidity circulation is in XRP is close to overselling After weeks of decline, recent on-chain data indicates a spike in network activity and possible reversal momentum, suggesting that XRP may be poised for a significant change in market direction. On Oct. 17, the XRP payment volume surged by more than 100%, surpassing 1.33 billion XRP, one of the highest readings this month. XRP’s liquidity circulation is in This is the most noteworthy metric that is supporting optimism. Such sharp increases in transaction volume typically occur before significant market recoveries for XRP, indicating expanding liquidity circulation and rekindled interest among network users. XRP/USDT Chart by TradingView Following a sharp correction that saw it fall from the $3.20 range earlier in October, XRP’s price stabilized around $2.45 at the same time as this surge. The strength of the on-chain recovery suggests that selling pressure may be abating, even though the token is still well below its major moving averages. XRP is close to overselling A flattening RSI near 35-37 and declining bearish volume support a possible bottom forming near $2.30-$2.40 in XRP’s chart structure, which suggests oversold conditions from a technical perspective. The candle’s noticeable narrowing indicates that the downtrend is about to pause as accumulation starts. The beginning of a momentum reversal toward $3.00 may be indicated if buyers are able to push XRP back above $2.65-$2.70, particularly as short positions start to release. Additionally, the increase in the volume of on-chain payments points to increased activity from cross-border or institutional players, who tend to be more active during market cycle transitions. Despite XRP’s recent collapse, this could support the idea that it is not yet finished. Source: https://u.today/enormous-100-xrp-spike-market-direction-flipThe post Enormous 100% XRP Spike: Market Direction Flip? appeared on BitcoinEthereumNews.com. XRP’s liquidity circulation is in XRP is close to overselling After weeks of decline, recent on-chain data indicates a spike in network activity and possible reversal momentum, suggesting that XRP may be poised for a significant change in market direction. On Oct. 17, the XRP payment volume surged by more than 100%, surpassing 1.33 billion XRP, one of the highest readings this month. XRP’s liquidity circulation is in This is the most noteworthy metric that is supporting optimism. Such sharp increases in transaction volume typically occur before significant market recoveries for XRP, indicating expanding liquidity circulation and rekindled interest among network users. XRP/USDT Chart by TradingView Following a sharp correction that saw it fall from the $3.20 range earlier in October, XRP’s price stabilized around $2.45 at the same time as this surge. The strength of the on-chain recovery suggests that selling pressure may be abating, even though the token is still well below its major moving averages. XRP is close to overselling A flattening RSI near 35-37 and declining bearish volume support a possible bottom forming near $2.30-$2.40 in XRP’s chart structure, which suggests oversold conditions from a technical perspective. The candle’s noticeable narrowing indicates that the downtrend is about to pause as accumulation starts. The beginning of a momentum reversal toward $3.00 may be indicated if buyers are able to push XRP back above $2.65-$2.70, particularly as short positions start to release. Additionally, the increase in the volume of on-chain payments points to increased activity from cross-border or institutional players, who tend to be more active during market cycle transitions. Despite XRP’s recent collapse, this could support the idea that it is not yet finished. Source: https://u.today/enormous-100-xrp-spike-market-direction-flip