XRP experienced a sharp recovery after a significant sell-off that hit the token's prices last week. Positive sentiment is returning to the market.
Strong Recovery of XRP After Sell-off
Over the weekend, XRP showed a strong recovery following a three-day decline that pushed the token down to $2.96. Buyers stepped in at key levels, driving the price up to an intraday high of $3.214 on Saturday.
Market Turns Optimistic After Decline
In the past week, XRP fell over 6.56%, largely due to liquidation events that took place on Thursday. More than $105 million worth of XRP long positions were liquidated that day, marking the second-largest altcoin liquidation in a broader market crash exceeding $735 million.
Next Target Level – $4
The rebound from $2.96 has sparked optimism that XRP could test higher levels if current momentum holds. Traders are observing trading between $3.20 and $3.30, which may act as a springboard toward the psychological $4.
The return of XRP's price after a $105 million liquidation instills hope among bulls. Attention now shifts to the potential for further recovery and breaking through the $4 level.
