XRP Bounces As South Korean Traders Step Up Buying

XRP is showing signs of life after an eighty day downtrend, bouncing roughly four percent from its August low. Traders in South Korea are leading the charge, stacking up solid bids on major local exchanges. Data shows that buy orders outweigh sell orders by a two to one ratio near the current market price, showing clear local demand.

Momentum indicators are also shifting in a positive direction. Even though the price made lower lows over the summer, the Relative Strength Index formed higher lows, creating a bullish divergence. At the same time, funding rates remain calm, which means the bounce is driven by spot demand instead of risky leverage.

Larger players and investment funds are showing similar interest. Wallets holding large amounts of XRP increased their holdings around August one, while spot exchange traded funds recorded their strongest weekly inflows in four weeks.

Traders are now watching key chart levels to see if the recovery can hold. XRP needs a daily close above one dollar and nine cents to break out of its falling channel. On the downside, failing to hold key support levels could drag the price back down toward one dollar and three cents.