XRP 2.86 percent in the last 24 hours, leaning for $ 2.95. In the price graph, the bottom formation of the critical demand band tested for months becomes evident. At the beginning of July, on 22 August and 18 September, the jumps proved that the same region was defended by buyers. As the price approaches the descending resistance line again, the triple bottom structure indicates that the seller’s power is weakened.
XRP price bottom formation and breakdown scenario
Technical appearance XRP CoinIt shows that consecutive reaction rises from the demand band hold the ratio in balance and that buyers gain strength for the rise. After the rapid rise wave extending to mid -July, the damping was repeated on August 22 with a similar volume. September 18 recovery strengthened the bottom formation of the graph. Relative power index (RSI) is close to the middle band and allows the upward pressure to continue.
Daily closing on the descending resistance line may open the door to the presence of $ 3.66 in the short term. If the channel upper band is exceeded, the psychological 4 dollar zone may be on the agenda. If the retreats to the request zone in the scenario are limited, the horizontal jam may last until the end of the year.
Market structure It supports the continuation of consolidation before the break. If permanence is provided on resistance with sufficient volume, a gradual rally towards the target band is possible. Unless the daily closing under the bottom is not seen, the risk-ote balance continues to remain in favor of the buyer.
CTO change in Ripple
Ripple’s technology leader for many years David Schwartzannounced that he would leave the post at the end of the year. In his message, XRP said that he would continue to contribute to the ecosystem while thanking the LEDGER developers. Although the leadership change may cause question marks in the perception of investor, experienced names tried to eliminate the question marks on this side by explaining that he would accompany the projects at the consultant level.
In terms of corporate road map, continuity stands out. Core teams LRPL Continuing to work on updates and network improvements can keep the target to adopt in the application layer alive. Although headline fluctuations can be seen in the short term, the technical appearance and operational continuity are evaluated together.
As it is known, the effect of management changes is usually temporary. For this reason, the focus of the market continues to take part in the performance, developing activity and arrangement headings. The decisive element on the price side will also confirmate the technical breakage and volume.
