Date: Sun, Nov 17, 2024, 05:45 AM GMTXRP has been riding a wave of bullish momentum ever since Donald Trump’s victory in the U.S. presidential election on November 5. The token has skyrocketed by over 100% in just under two weeks, fueling excitement across the crypto community. This surge has been powered by a combination of Ripple’s recent legal wins and speculation that SEC Chairman Gary Gensler might step down.In a significant milestone, in the past 24 hours, <a href="https://coinsprobe.com/ripples-xrp-soars-as-regulatory-relief-fuels-rally-will-it-break-1/" rel="noopener noreferrer nofollow">XRP </a>crossed the $1 mark for the first time since November 11, 2021. However, after reaching a high of $1.27, the token faced a slight correction and is now trading at $1.02.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/67c12618aec14112828ba2976157df7f.png" />Source: Coinmarketcap<h3 id="what-s-driving-the-correction">What’s Driving the Correction?</h3>The pullback appears to be driven by retail traders taking profits. According to on-chain data from <a href="https://x.com/santimentfeed/status/1857854776769130794" rel="noopener noreferrer nofollow">Santiment</a>, large XRP holders, or “whale” and “shark” wallets holding between 1 million and 100 million tokens, have been on a massive accumulation spree. This group added 453.3 million XRP (worth $526.3 million) in the past week.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/32905494126b4662a1aba5acae41abdc.jpeg" />Source: &#64;santimentfeed (X)In contrast, smaller wallets holding under 1 million XRP have dumped 75.7 million tokens (worth $87.9 million) during the same period. This suggests that while retail traders are cashing out, whales are taking the opportunity to buy the dip.<h3 id="what-s-next-for-xrp">What’s Next for XRP?</h3>With XRP now trading at a crucial support level of $1.00, the next move could go in one of two directions:<img src="https://academy-public.coinmarketcap.com/optimized-uploads/74e46bcdac714a78b372c7cb02ab621d.png" /><ol><li>Bullish Reversal: If the support holds, XRP could quickly rebound to test resistance levels at $1.27 and potentially $1.35.</li><li>Further Correction: If the $1.00 level fails to hold, XRP might dip further to the next support at $0.9378 before attempting a recovery.</li></ol>This correction could provide opportunities for both short-term traders and long-term holders to strategize their positions.As the market continues to react to macroeconomic and crypto-specific factors, XRP&#39;s next moves will be closely watched by traders and investors alike.Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.Also Read: <a href="https://coinsprobe.com/jasmycoin-jasmy-completes-retest-after-breakout-can-it-trigger-a-rally/" rel="noopener noreferrer nofollow">Jasmycoin (JASMY) Completes Retest After Breakout: Can It Trigger a Rally?</a>

XRP Hits Key Support Levels Following Minor Correction: What To Expect Ahead?

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