🚀 $XRP rises by 7.1%.. A strong surge backed by institutions and nearing the upgrade of "Batch V1.1"! 🌊🔥
XRP recorded a powerful start, up by 7.1% over the past 24 hours, driven by intensifying buying momentum and global anticipation of structural changes in the network.
📊 Top drivers behind the current rise:
Expected network upgrade: The countdown to activate the XRPL Batch V1.1 feature on September 29 strongly boosts expectations for improved efficiency across the ecosystem.
Massive institutional support: Continued institutional inflows and spot ETF funds for nine consecutive weeks, accumulating to $1.71 billion, along with $30 million in corporate bond allocations.
Tight supply and Asia liquidity: Exchange reserves fell to a 7-year low at 1.6–1.7 billion tokens, alongside a notable rebound in trading volumes from South Korea.
⚠️ Technical risks and market read:
The Relative Strength Index (RSI) has reached advanced levels above 81, and the price’s approach toward the upper Bollinger Band suggests a possible temporary momentum exhaustion or a minor correction.
A slight slowdown in the pace of daily inflows, with previous liquidation activity in derivatives contracts, calls for caution.
Conclusion: The fundamental and technical momentum places XRP at the forefront of the scene, and testing resilience above the current gains paves the way for a new growth phase! 📈
#xrp $XRP
XRP recorded a powerful start, up by 7.1% over the past 24 hours, driven by intensifying buying momentum and global anticipation of structural changes in the network.
📊 Top drivers behind the current rise:
Expected network upgrade: The countdown to activate the XRPL Batch V1.1 feature on September 29 strongly boosts expectations for improved efficiency across the ecosystem.
Massive institutional support: Continued institutional inflows and spot ETF funds for nine consecutive weeks, accumulating to $1.71 billion, along with $30 million in corporate bond allocations.
Tight supply and Asia liquidity: Exchange reserves fell to a 7-year low at 1.6–1.7 billion tokens, alongside a notable rebound in trading volumes from South Korea.
⚠️ Technical risks and market read:
The Relative Strength Index (RSI) has reached advanced levels above 81, and the price’s approach toward the upper Bollinger Band suggests a possible temporary momentum exhaustion or a minor correction.
A slight slowdown in the pace of daily inflows, with previous liquidation activity in derivatives contracts, calls for caution.
Conclusion: The fundamental and technical momentum places XRP at the forefront of the scene, and testing resilience above the current gains paves the way for a new growth phase! 📈
#xrp $XRP
