XRP Gains 5.6% as Investors Rotate Fund to Altcoin
Ripple -XRP- has recovered 5.59% in the last 24 hours to $1.37 after a heated selloff that plunged the altcoin to $1.30 following the US hit on Iran, now outperforming a broader market that rose 3.61%.
Trading volume is down 8% to $3.54 billion on Sunday with reduced tensions selloffs, though market conditions haven’t improved significantly.
Retail investors are still speculating, and dip buyers in the cryptocurrency market remain even more cautious as fluctuation persists across altcoin names.
The total crypto market cap rose 3.61% in 24h, with Bitcoin up 3.66%. XRP’s 5.59% gain moved in lockstep but slightly outperformed, indicating it caught a bid as capital flowed back into risk assets.
The Altcoin Season Index rose 17.24% over the past week, signalling a rotation of capital into alts. Technically, XRP found support near its 30-day Simple Moving Average ($1.35) and the 38.2% Fibonacci retracement level ($1.37), providing a floor for the bounce.
The immediate path hinges on two concrete levels: resistance at $1.39 and support at $1.35. If Bitcoin holds above $66,000, XRP could attempt a breakout toward $1.43. However, failure to hold $1.35 risks a deeper pullback to the next support at $1.31.
XRP’s gain is a relief rally within a broader downtrend, fueled by market-wide beta and slight altcoin rotation. Its near-term fate hinges on Bitcoin’s ability to sustain its recovery. Binance Coin Slides on Profit-Taking, Defensive Rotation
