With a market cap exceeding $177.3 billion and a daily trading volume surpassing $7.18 billion, XRP remains one of the most actively traded assets. However, recent price fluctuations prompt a reevaluation of its outlook for the week ahead.
Market Overview of XRP
According to recent data, XRP displays high market activity. Forecasts from Perplexity AI suggest that XRP's price may range between $3.05 and $3.22 over the next week, driven by strong liquidity inflows and investor interest.
Reasons for XRP Price Correction
Analysis from Glassnode reveals that 93% of XRP's circulating supply was in profit at its recent peak, traditionally leading to profit-taking. Additionally, significant movements by large holders impacted the market. For instance, Ripple co-founder Chris Larsen reportedly moved $175 million worth of XRP to four wallets, with a significant portion being transferred to exchanges, suggesting preparations for selling.
Forecast and Technical Analysis
Perplexity AI predicts XRP will remain volatile, oscillating between key resistance at $3.20 and support at $2.85. Bitcoin's stability and ETF-related optimism may help XRP test the upper range of the forecast. Conversely, further weaknesses in the market could see XRP revisit the $2.80–$2.85 levels.
In the coming days, XRP's trajectory will depend on whether buyers can absorb the profit-taking waves and reestablish bullish momentum in the short term.
