#XRPETF

The net value of XRP has reached its highest level in 5 years, indicating overvaluation and a potential correction in the future.

XRP is currently trading at $2.19, having risen by 22% over the past two weeks. The altcoin seems poised to break a three-month downward channel pattern. However, this rise faces some challenges, as the state of overvaluation and general market indicators suggest that the upswing may not last.

XRP has risen by 22% over the past two weeks, yet technical indicators paint a more concerning picture. In fact, the Chaikin Money Flow (CMF) has shown a significant increase, often indicating that money is entering the market. However, a closer look at the flow volumes reveals that the price rise is not supported by substantial buying activity.

Instead, the price increase is driven by hype. The price of XRP recently faced a new downward trend, with the altcoin breaking key support levels. But recently, it seemed to have formed a bullish pattern that appears ready for a breakout. Will Ripple break the $2.5 barrier or is a deep correction coming? Let us know in the comments.