Crypto Market Today Rebounds as Bitcoin, XRP Rally After Panic Sell-Off

The crypto market

XRP stood out during the rebound, posting sharper gains compared to the broader market. According to Santiment data, XRP price recovered from below $1.15 to above $1.50 in less than a day.

The rally was supported by heavy whale activity, with over 1,389 transactions worth more than $100,000 recorded, the highest level in four months. At the same time, the number of active XRP Ledger addresses surged to a six-month high, suggesting renewed interest during the dip.

These signals point to strong buying during panic conditions, often seen near short-term market bottoms.

Bitcoin Relief Rally or More Downside Still Possible?

Bitcoin has not yet confirmed a full trend reversal. Buy signals are appearing on shorter timeframes, but a stronger confirmation would require a weekly signal, which is still missing.

Past market cycles show that initial rebounds are often followed by weeks of choppy price action or even another leg lower. Similar setups in recent months resulted in breakdowns after brief optimism.

Bitcoin could move toward the $75,000–$80,000 range in the short term. However, a sustained move above $80,000 is seen as necessary before confidence in a new bull phase can return.

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