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After weeks of price declines, new data indicates a significant increase in activity on the Ripple (XRP) network and the possibility of a market trend reversal. On October 17th, the volume of XRP payments increased by more than 100% to over 1.33 billion XRP, one of the highest values of the month. Such an increase usually occurs before a strong market rally and indicates a return of investor interest in this digital currency.
XRP price has now stabilized at this level after a significant drop from $3.20 to around $2.45. The recent increase in the volume of transactions could indicate a reduction in selling pressure and the beginning of an upward trend. In addition, the relative strength index (RSI) reached the range of 35-37, which means an oversold situation and is considered as a signal for a price reversal.
If buyers can push XRP above $2.70-2.65 and hold, the trend may change towards $3.
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