Ripple $2.14XRP, the crypto currency, depreciated by 1.42 percent on June 21st and started to be traded for $ 2.13. With the increase in sales pressure during June, the XRP price is moving in a narrow price range that has been going on for seven months. Analysts say that the price of this sales pressure increases the likelihood of breaking down. However, buyers are making great efforts to protect the current support point.
Technical Indicators and Price Movement
The latest data indicate that the price of XRP has recently a visible slimming. This edition causes market participants carefully to follow the direction of the XRP in the coming period. In particular, technical analysts raise the possibility of decreasing the price of the current consolidation zone.
The price continued to fluctuate in a certain range during the seven -month period, and a significant upward breaking did not occur during this period. In June, the pressure on the lower limit of this range increased with the increasing moves of the sellers. Experts think that Altcoin may need a new level of support in terms of current status.
Investors and market trend
However, the rates of investors who opened long positions have reached a new summit this month. This shows that buyers are trying to take a position against a possible price drop. It is still observed that investors trying to defend the current levels of XRP are still effective in the market.
Some market participants are cautious with concern that the price may further decline. However, other investors emphasize the importance of the current support point. Market data indicate that the long -term optimism of investors continues.
Ripple analysts: “The lower limit of the seven -month consolidation band is critical. The preservation of this level may be decisive in terms of the price of the price.”
Experts make assessments that the struggle between buyers and sellers in the market is decisive on the price. In the coming days, the direction of the XRP price movement will change in the direction of short -term data.
While the actions of investors shape the general tendency of the market, existing technical levels are carefully monitored. Analyst reports focus on whether the support on the receiving side is sustainable.
Ripple’s XRP is going through a remarkable process with recent decreasing market motivation. It is stated that price movements may vary depending on the preservation of existing support levels in the market. These developments, which are closely followed, may cause crypto currency investors to act more cautiously in the coming days. XRP investors point out that it may be useful to consider new levels of support and resistance.
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.
