South Korean investors seem to be piling on XRP recently amid the token’s strong rally. This is considered by seasoned traders as a bellwether of what could be the beginning of a fresh bullish cycle for altcoins.
XRP’s strong rally during the weekend has pushed its yearly gains to 18.7%, making the native asset of the Ripple network the best-performing token in the top 5.
Data from Upbit, the largest South Korean crypto exchange, indicates that XRP’s trading volumes currently lead the scoreboard at nearly $335 million, amply surpassing the $179 million worth of Bitcoin (BTC) that was traded in the past 24 hours.
Seasoned market participants highlight that the rally has been the result of a robust short squeeze that liquidated more than $1 billion worth of short positions.
Data from CoinGlass indicates that $212 million worth of short positions were liquidated in the past 24 hours. However, on May 7, this figure surged to $835 million. Rallies tend to be exacerbated in highly leveraged and one-sided markets like these.
XRP Price Prediction: Bulls Set Eyes on $3.2 Target
Strong participation from South Korean retail traders is typically a bullish factor to consider when making an XRP price prediction.
The latest price action keeps supporting an upcoming push to the $3.2 area after XRP fully reversed its downtrend and broke out of its descending price channel.
Both the 21-day and 200-day EMA are heading upwards and momentum indicators are in strong bullish levels.
The Relative Strength Index (RSI) currently sits at 64, meaning that buyers are in control of the price action, while the MACD’s histogram has been trending higher in the past four days.
Apart from its short-term and long-term EMAs, the $2 level is the most critical support area to watch in case of a strong pullback.
Getting to the $5 area will take significant effort from bulls. Although not impossible, XRP will have to first clear its all-time high of $3.45. The last time bulls tried, they were met with some strong selling pressure.
As sentiment improves along with macroeconomic conditions, the odds that XRP will make a new all-time high have increased.
Meanwhile, the market’s recovery has made the top crypto presales of 2025 like Best Wallet (BEST) more attractive than ever.
Best Wallet ($BEST) Raises $12M to Launch a Market-Leading Crypto Wallet
Best Wallet (BEST) is a non-custodial crypto wallet that introduces a set of new and robust features to challenge the dominance of existing solutions like MetaMask and Exodus.
This Web3 storage solution supports assets in more than 50 blockchains and offers low fees for swaps.
It also introduces tools like Upcoming Tokens – a crypto screener that allows users to identify and invest in top ICOs while they are still flying below most investors’ radars.
With more than $12 million raised, the developing team has secured the necessary resources to launch these features and keep building the Best Wallet ecosystem, which will, at some point, include a decentralized exchange (DEX) and a debit card.
To invest in $BEST, the native asset that powers the entire ecosystem, simply head to the Best Wallet website and connect your wallet.
You can download the Best Wallet app if you don’t have a crypto wallet now and you can either swap USDT or ETH for this token or make your investment by using a bank card.
The post XRP Price Prediction: South Korean Investors Bet Big on Ripple, Can XRP Reach $5 in May? appeared first on Cryptonews.
