Recently, the XRP price is traded in a narrow range with low volatility. Crypto currency has been moving in the $ 2.18 band for the last two days. During this period, when geopolitical tensions dominate the global crypto market, the limited price changes observed in the XRP draw attention. According to the latest update, the XRP price is traded for $ 2.16 with a moderate increase of 1.8 percent.
Station in the price range
Market analysts argue that XRP has not been able to find a significant direction for the last two days. According to the data shared by Coings, although the daily transaction volume decreased by 34 percent as of June 14, there was no significant mobility in prices. This is interpreted as a cautious attitude of investors.
Geopolitical tensions seen in the global market create a general adverse atmosphere in crypto assets. The fact that investors behave cautiously in the short term and avoid large positions manifests by contraction in the volume of transaction. In the XRP, the horizontal course continues.
MVRV indicator and risk of decrease
Various technical indicators are used to evaluate price movements in the crypto money market. 90 -day MVRV (Market Value to Realized Value) indicator, XRP’de summit signs. According to analysts, the presence of this indicator at the highest levels increases the likelihood of sales pressure.
In this indicator, where investors’ savings and sales behaviors are monitored, high levels indicate a possible risk of correction. The fact that MVRV is at the top point in XRP makes some market participants anxious. In this context, opinions are expressed that there may be a short -term decrease in prices.
In addition, according to some market evaluations, it is claimed that the target of bears (sales pressure) in XRP may be $ 1.60. This level is reported to be seen as an important support point in technical analysis. In the light of recent developments, investors are careful to be careful.
In the assessment made by Coingape, the following statements were included: “There is a remarkable decrease in the transaction volumes in the XRP market. When the 90 -day MVRV indicator is examined, the price signals at the peak points and strengthens the likelihood of short -term retreat.”
The movements in the XRP price continue to be shaped by the effect of general market sensitivity and technical indicators. Analysts say that it may be useful to closely monitor short -term developments. It is suggested that the analyzes supported by technical indicators will be effective in investment decisions.
Today, it is important that crypto currency investors take into account the risks. During periods when the volatility is low and the volume of trading is low, it is recommended that market participants carefully monitor the price movements. The current technical indicators raise the possibility that XRP can test the support levels in the near term. It is recommended for investors to follow market developments and important technical levels.
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.
