Derived from U.Today, XRP, the fourth largest cryptocurrency by market value, experienced a 5% price increase despite a 'death cross' on its hourly charts, a typically bearish signal. This rebound comes after a significant market sell-off earlier in the week, with liquidations exceeding $1.4 billion. The market's recovery was partly influenced by the Fed's lower-than-expected inflation gauge, easing concerns over interest rate announcements. On-chain data indicates accumulation by 'whales,' with 99,999,977 XRP worth $222,109,105 transferred between unknown wallets. Analyst Ali Martinez noted that whales purchased 80 million XRP since the price correction began on Dec. 17. XRP's price rebounded from lows of $1.95 to $2.35, with resistance at $2.72. The daily RSI suggests range-bound trading, with potential for a fresh uptrend if prices surpass $2.73. Additionally, the Multi-Purpose Token on XRP Ledger was successfully audited, enhancing security.
XRP Surges 5% Despite Hourly Death Cross Amid Market Rebound
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