#Crypto Market Rebound#  How Far is the XRP Price from its All-Time High?

XRP's recent price surge has brought the altcoin within 17% of its all-time high (ATH) of $3.40. This achievement seemed unattainable just two weeks ago.

This rally is being supported by strong bullish momentum driven by a significant group of investors.

XRP Coin Attracts New Buyers

The recent surge in XRP's price can be attributed to an influx of new addresses, which has contributed to a 124% increase in daily addresses since the beginning of this month. The daily average has risen from 3,600 to 8,100, indicating growing investor interest and market optimism.

This influx has been a key driver of the altcoin's upward movement despite broader market uncertainty. As these new addresses pour money into XRP, the altcoin has resisted negative market signals.

The continued growth of new addresses is an encouraging sign for XRP's market outlook. These new owners are driving the price higher while also continuing the bullish trend.

Looking at technical indicators, the RSI (Relative Strength Index) is currently in overbought territory, having surpassed the 70 threshold. This suggests that XRP may be in the midst of an extended rally, similar to previous overbought conditions.

In November 2024, XRP experienced a massive 387% rally followed by a retracement. While another overbought rally seems unlikely, current conditions suggest XRP still has growth potential, especially if support from new addresses remains.

The overbought condition and influx of new holders suggest the rally could continue for some time. If the market remains positive, XRP could maintain its upward momentum and establish a new ATH in the coming weeks.

XRP Price Facing Resistance

XRP's price is currently at $2.89, just below the $3 resistance level. This marks a four-month high and brings the altcoin closer to its ATH of $3.40.

The recent surge, fueled by an influx of new addresses, has brought XRP closer to breaking this critical resistance level. XRP is 17% away from its ATH and is likely to surpass $3 if the current momentum continues. Once $3 is consolidated as support, XRP could continue its upward trend, potentially reaching $3.40 or higher, setting a new ATH for the cryptocurrency.

However, if profit-taking begins and investors begin selling their holdings, XRP could face a reversal. A significant sell-off could cause the price to drop to $2.65, invalidating the bull thesis.

‍ #XRP#