XRP: bulls vs bears
2024-11-26

Certainly, after three years of a steady downtrend, XRP’s resurgence sparked renewed FOMO in the market. On the day XRP hit $1, active accounts on the XRP ledger surged to a yearly high of around 48K. However, within just a week, that number has dropped to 30K, reflecting a 37.5% decline.

These abrupt exits have disrupted the momentum needed to break the $2 barrier, leading to a more than 2% decline after it crossed the halfway point two days ago, with XRP currently priced at $1.46 (at the time of writing).

However, if the bulls lose confidence in XRP’s long-term potential, a pullback to around $1 could form a local bottom, offering an attractive entry point for new traders looking to capitalize on a rebound.

This places Ripple at a crossroads, where the next move will define whether the momentum will build toward $2 or retrace to new entry points around $1.

The coming days will likely show which side takes control in this tug-of-war. However, the bulls’ drive to keep XRP from falling after so many challenges gives them a strong psychological edge.

With continued confidence, the likelihood of breaking $2 grows, as bulls work to reignite FOMO in the market.