The XRP attracts attention with its price above $ 2.20, an important level. The historical clarity for the futures ETF launch was supportive for bulls.
XRP COIN BURNING
Risk appetite increased in global financial markets due to Trump’s statements that support interest cuts and reconciliation calls for tariff. These developments turned the direction of the XRP up with the positive expectation of investors. Bitcoin’s 60 -day summit gave positive signals in the general market.
Although the XRP rises to $ 2.25 and then withdrawn slightly, the main support level is trying to protect $ 2.20. The 24 -hour transaction volume approaching $ 2.5 billion may indicate that the purchase appetite continues.
On the XRPLEDGER, a significant increase in burned fees was recorded. The amount of burning, which was 2,730 XRP on April 22, reflected an increase of 38 percent by providing an exit to 3,775 XRP on April 26th.
This increase is interpreted as an on-achain signal that the transaction volume on the network and user efficiency is increasing. Thanks to the deflationist mechanism feature, it is thought that the amount of XRP in circulating over time may gradually decrease.
“The XRP is not digital gold; it allows the purchase and sale of digital gold as a liquidity layer to become a component on the blockchain. While gold and Bitcoin is a valuable storage tool, the priority of XRP is functional use and offers high speed in millions of daily transactions.” – Favio Valerda, Sologneic
XRP Price Estimation
In the technical analysis, the narrowing of the Celtner Channel bands and the purchase signal of parabolacic SAR indicators indicate the likelihood that the price will rise up to $ 2.35. Money Flow Index is at 57.12; This does not show the extremely taken situation despite the healthy cash flow.
If the price remains below $ 2.20, there may be a risk of decreasing up to $ 2.13 and even up to $ 1.94. If the current support levels are preserved, the XRP is expected to exhibit a remarkable upward movement in the short term.
Considering macro developments, On-Chain data and technical indicators, it is foreseen that XRP can maintain its permanence at certain levels of support, even if short-term fluctuations. It is important for investors to be cautious against sudden movements and possible risks in the market.
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.
