According to market analysts, the rise tendency observed in the price of XRP is supported by technical indicators and significant resistance levels. Reports show that a significant level of resistance is exceeded during the 4 -hour period of the token.
Technical Analysis Findings
According to the results of the relevant technical analysis, the XRP exceeds the 4 -hour resistance level and gives increasing print print signals. In a statement made by Dark Defender, it was emphasized that the rising trend could continue with the XRP’s critical resistance exceeding the level of $ 3.39.
Dark Defender: “The XRP price has 4 hours of resistance; Purchase pressure increased. When the critical resistance is passed, the price may tend to a rapid rise. ”
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In analysis, Ripple $2.63 The support level of the token is 2.22 dollars. In the assessment made by Casitrades, the XRP watched on the transaction bands between $ 2.57 and $ 2.70. Fibonacci correction levels are also specified as 2.48 and $ 2.42, and upward steps are expected if the price remains above these limits.
Market expectations
Market experts indicate that if the support levels of the XRP price are preserved, they can move towards 3.80 and then to $ 5.85. The inclusion of the Ripple token in strategic reserves and the increasing demand may be effective on general market dynamics. Cryptoquant CEO, Young Ju, said that the increase in stablecoin demand could be an important factor for the approaching period.
Cryptoquant CEO Ki Young Ju: “Stablecoin demands are observed; This may be an important catalyst for the approaching period. ”
In the current data, the XRP price is $ 2.61. In addition to an increase of approximately 7 percent in the last 24 hours, the market value continues to increase despite the decrease in the transaction volume.
The analyzes indicate that technical developments in XRP can support the potential rise of the price, while investors should closely follow the levels of support and resistance. Considering market dynamics and transaction volume can be considered among important indicators in terms of future price movements.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
