Ripple $2.07‘s XRP price seems to have declined more than 13 percent in the weekly graph; Investors try to maintain their support levels, uncertainty superiority. Although the price is over $ 2.11 for a shorter point close to the $ 2.03 level, the future course does not appear clearly.
Analyst Ali Martinez reported that the value ratio of XRP with its market value fell below the 200 -day average. This may carry the signals of a downward trend in general price movements.
Process Volume and Critical Support Points
It is observed that the daily transaction volume increased by 35 percent to over 4 billion dollars. Market observers say that the support level of $ 2.03 can be negotiated and that the price exceeds 2.30 resistance levels can trigger a new rise.
Litigation Process and Market Expectations
The proceedings between Ripple and the US regulatory institution are also considered to be the uncertainties reflected on the market. Some investors say that the relevant institution cannot make an official statement until August, while market expectations are complicated.
However, former SEC lawyer Marc Fagel opposed this view and presented a different perspective.
Marc Fagel: “This claim is stupid and wrong.”
The comment has fueled the discussions within the market.
Despite the price recovery signals, investors closely follow the resistance level and support points to be protected. The current data indicate the wavy course of XRP in the short term.
Market analysts state that the protection of existing levels can be an important turning point for investors. With the increase in transaction volume, it continues to be a matter of curiosity whether the upward movement will sit on the stick foundations.
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.
