Ripple’s XRP surged to a three-year high of $1.26 on Nov. 16 but has since pulled back to $1.15, reflecting a 9% decline over the past two days.

The market is currently experiencing increased selling pressure, heightening concerns that the XRP token could soon dip below the critical $1 threshold.

Ripple Sees Surge in Selling Activity

The divergence between XRP’s price and its trading volume over the past 24 hours is a notable indicator of the surge in selling pressure. The altcoin’s value has climbed 7% within this period, while its trading volume has plummeted by 55%.

When an asset’s price rises while trading volume declines, it signals waning market participation. Price increases are more sustainable when accompanied by higher trading volumes, which suggests higher market interest.

However, when the price increases with declining volume, the rally is losing momentum. It indicates that fewer participants are driving the price movement, potentially making it less reliable or more susceptible to reversals. 

Additionally, a heatmap of XRP’s Relative Strength Index (RSI) indicates overbought conditions across four of six timeframes, hinting at continued price pullback in the meantime.

The RSI measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100, with values above 70 suggesting that the asset is overbought and due for a decline. On the other hand, an RSI value below 30 indicates that the asset is overbought and may witness a rebound.

XRP’s overbought conditions across multiple timeframes point to a clear conclusion: the market is overheated. Signs of buyer exhaustion are emerging, raising the likelihood of a sustained decline in the XRP crypto price.

XRP Price Prediction: Sub $1 Price Level Imminent

Currently, XRP is trading at $1.15, maintaining support at $1.06. If selling pressure escalates, the altcoin may test this support level. A breach could see the price dip below the psychological $1 mark, potentially reaching $0.93. Continued selling could push XRP even lower, possibly targeting $0.82.

However, a resurgence in demand could propel XRP back to its three-year high of $1.26 and above, invalidating the bearish outlook outlined above.

SUI has surged significantly in price this month, climbing to new all-time highs over the weekend. 

The altcoin, which has gained 105% in the past two weeks, is now considered a standout performer in the crypto market. Currently trading just below its peak, SUI shows strong potential for further gains.

SUI Is a Good Bet

Analyst Michael Van de Poppe recently labeled SUI as the “best thing to buy” during Bitcoin’s correction phase. The altcoin’s popularity among traders is evident, with SUI trending across major platforms. Open Interest (OI) in SUI futures has also reached an all-time high of $826 million, underlining heightened demand and investor confidence.

The increasing capital flow into SUI reflects broader market enthusiasm. Traders are viewing it as a reliable option amid fluctuations in larger cryptocurrencies like Bitcoin. This surge in attention has amplified SUI’s visibility, making it a focal point for both retail and institutional investors.

SUI’s macro momentum is bolstered by its Chaikin Money Flow (CMF) indicator, which is currently well above the typical reversal range of 0.20 to 0.30. This level indicates substantial inflows, signaling growing interest from investors. Historically, reversals occur when the CMF reaches these levels, but the current breakout suggests exponential growth potential.

Such strong inflows demonstrate the asset’s resilience and sustained investor participation. If this trend continues, SUI could attract even more capital, strengthening its position as a high-growth altcoin in the market.

SUI Price Prediction: Reaching New ATH

SUI is currently trading at $3.79, just shy of its all-time high of $3.94, achieved over the weekend. The altcoin’s impressive 105% rally has solidified its position as a top-performing cryptocurrency this month.

Considering the ongoing bullish momentum, SUI is likely to hold its gains. The aforementioned factors do point towards SUI potentially setting a new all-time high if current trends persist. 

However, a shift in sentiment or profit-taking by investors could trigger a drawdown. In such a scenario, SUI may fall to the $3.20 support level, and a drop below this would invalidate the bullish outlook.