Strong Recovery Suggests New Record High in Ripple (XRP)
Ripple coin dived hard yesterday, losing 15% in value, but it has bounced back even harder, gaining 20%, which shows strong buying pressure and suggests a new all-time high for XRP soon.
Ripple’s Strong Rebound Amid Market Turmoil
Global markets took a sharp downturn during the Asian and European sessions, dragging cryptocurrencies down with them. Ripple (XRP) was particularly affected, plunging nearly $0.40. Despite this, Ripple staged a remarkable recovery late yesterday. Earlier this month, XRP set a new record high of $3.3942, fueled by a strong bullish advance in November and a December pullback.
On the daily chart, the 50-day SMA (yellow) acted as support multiple times, sparking rebounds off that level. Last week, however, XRP fell sharply again, dropping to $2.6525—a 15% decline. The selloff found support at the 50-day SMA, where buyers re-entered the market, driving the price back above $3 by the day’s close. A pin candlestick formed on the daily chart, signaling bullish intent. The buying momentum continues today, with XRP gaining $0.15, reflecting strong purchasing interest.
Ripple Chart Daily – Bullish Chart Setup Suggests Next Phase of Uptrend
Will XRP be Included in the Strategic Bitcoin Reserve?
Arizona is making strides toward adopting Bitcoin as a state reserve asset through the “Strategic Bitcoin Reserve” initiative. Recently approved by a state Senate committee, the bill now moves to the floor for further consideration. Spearheaded by state senators Wendy Rogers and Jeff Weninger, the proposal highlights Bitcoin’s decentralization and scarcity as key benefits.
Ripple CEO Brad Garlinghouse is also advocating for XRP’s inclusion in the reserve, emphasizing that a diversified approach—incorporating assets like Bitcoin, Ethereum, and XRP—would strengthen the initiative. This development has been viewed positively for Ripple, potentially providing additional bullish momentum. While Bitcoin and Ethereum remained relatively unchanged, Ripple’s gains today underscore its strong performance, bolstered by the broader positive sentiment surrounding this initiative.
Ripple Live Chart
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