Post-Peak Dip in Ripple (XRP) After Reaching $3.65 - What Lies Ahead?

Ripple (XRP) recently hit an all-time high (ATH) of $3.65, fuelled by larger market gains and interest following the launch of the ProShares Ultra XRP ETF. However, despite a 3% rise in the past day and a 19% increase over the week, new wallet growth has dropped substantially, indicating fewer market entrants and potential restriction of further growth.

A significant XRP transfer of over 210 million tokens, valued at about $738 million, was also observed, indicating growing interest among larger holders. However, despite a bullish structure, momentum seems to be slowing down due to a decrease in new user growth and the price nearing overbought levels. This could lead to a brief correction or consolidation in the near future.