Cryptocurrency XRP has seen a 10% surge this week, sparking interest among investors who are keeping a close watch on the next big market move. With the memory of the “Trump pump” still fresh, many are wondering if now is the time to buy before another rally.
XRP’s recent price jump comes at a time when Bitcoin is struggling, showing a 5% decline. This shift in the market has many investors reallocating their capital, and XRP is emerging as a potential winner.
The cryptocurrency rose by over 10% in a single day, showing bullish signals with its MACD turning positive.
However, XRP is still trading at $2.55, and breaking past $2.60 has been a challenge. The $3 mark is still a long way off.
Despite the current bullish trend, there are concerns that the surge might be driven by speculation rather than solid fundamentals.
Open Interest (OI) in the Futures market has hit a new high, and whales are aggressively buying XRP. This has led to a short squeeze, but there are signs that retail interest is thinning out. This could mean that the XRP/BTC pair might soon turn negative, signaling trouble ahead.
In short, while XRP’s 10% rise is tempting, it’s important to approach with caution. The market may experience another correction before XRP can target $3.
The upcoming “Trump pump” could provide the clarity investors need to decide whether to hold or sell.
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