• XRP’s month-long uptrend may continue as indicators showed no signs of slowing down.
• Profit-taking was close to a two-year high, but the current market condition calls for wariness.

Following an excellent monthly performance that distinguished it from the rest of the crypto market, Ripple [XRP] could be faced with an imminent correction. Needless to say, XRP’s 53% hike in the last 30 days was unprecedented. However, the drums of a possible victory over the SEC played their part in renewing buyers’ confidence.

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Traders are scooping in…

The rise was also vital in helping XRP reach its highest profit-taking activity since August 2021. This confirmed how underwhelming XRP’s performance has been for a long while. According to Santiment, the daily on-chain transaction volume in profit to loss was at 1.188.

Although selling pressure most times leads to a decrease in asset price, XRP seemed like it was committed to defying the trend. At press time, the token value had increased another 18.17% in the last 24 hours.

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Author: Victor Olanrewaju

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