Why is XRP up today (December 29)?

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Why is XRP up today?

Highlights

XRP rose to $1.89 as strength in Bitcoin and Ethereum improved sentiment and supported selective altcoin buying across markets.
The rebound was backed by a technical bounce and signs of whale accumulation, reducing near-term sell pressure at support.
Analysts cite regulatory optimism and stronger on-chain activity, though they warn volatility is likely to remain elevated.

The move came as investors showed renewed confidence in risk assets, encouraging selective buying in altcoins. After several sessions of choppy trading, the market tone improved, allowing XRP to stabilize and edge higher. Traders appeared more willing to step back into positions following recent consolidation. The recovery was measured rather than aggressive, suggesting cautious optimism rather than speculative frenzy. Still, XRP benefited from the broader market’s constructive backdrop.

Technical bounce and whale accumulation support the recovery

The upside move was reinforced by a technical bounce from a key support zone, which attracted dip-buyers and short-term momentum traders. When support holds after a pullback, it often encourages tactical buying aimed at quick rebounds. On-chain data also point to whale accumulation, with large holders adding XRP or withdrawing tokens from exchanges.

This behavior reduces immediate sell pressure and is typically interpreted as a sign of confidence from bigger players. Rising trading volume confirmed improved participation behind the move. Together, technical stability and large-holder activity helped underpin XRP’s modest advance.

Kharitonov: Regulatory optimism and stronger on-chain signals lift confidence

According to Anton Kharitonov, renewed regulatory and ETF-related optimism is contributing to the improving sentiment around XRP. Investors are once again factoring in better odds of regulatory clarity or progress on XRP-related investment products.

Kharitonov stated:

“XRP’s move higher today looks driven by a mix of technical recovery and improving sentiment across the crypto market. If momentum holds, XRP could test higher resistance levels, though volatility remains elevated.”

At the same time, on-chain activity and network usage have picked up, indicating healthier short-term demand. Higher transaction volumes and engagement suggest the ecosystem is regaining traction after recent weakness. While the move does not yet signal a full trend reversal, it reflects stabilizing conditions. Kharitonov notes that holding above $1.85–$1.88 could allow XRP to gradually target the $1.95–$2.00 area if momentum builds.

Recently we wrote that XRP is currently trading at $1.9054, which is below the MA-20 ($1.9252), MA-50 ($2.0737), and MA-200 ($2.5745), indicating persistent bearish pressure in the short, medium, and long-term outlooks.

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