$XRP Ripple (XRP) is experiencing temporary declines, briefly dipping below $2 during the market correction on February 3. However, there are signs that Ripple may be poised for a major rally.¹

One factor that could push the price of Ripple higher is the filing of a 19b-4 by Cboe BZX on behalf of Canary Capital, WisdomTree, 21Shares, and Bitwise, seeking to list the first XRP ETF in the United States. This move could provide U.S. investors with a new way to access XRP, potentially creating buying pressure that could push the price higher.

Whale activity is another factor worth watching, with crypto analyst Ali Martinez revealing that large investors have accumulated 520 million XRP, or over $1.2 billion at current prices, during the recent drop. A reduction in circulating supply may pave the way for a price rally, especially if demand continues or increases.

Technically, the Relative Strength Index (RSI) signals a potential rebound. When this indicator drops below 30, it indicates oversold conditions and a potential rebound.