The price of XRP decreased to the lowest new level for 30 days, about $ 1.90 on Tuesday, as the markets continued to respond to the total opposite winds of American trade policies. Mashqat market data indicates that the bear traders are formed for more impact in the coming days.
Ripple (XRP) fluctuates at two dollar support, tightening macro morale
The price of Ripple (XRP) witnessed the lowest record levels on Tuesday, as global markets continued to fluctuate under severe pressure from American commercial policies. After showing the relative flexibility that retains the support of two dollars last week, the XRP market dynamics seem now vulnerable to the main negative dangers.
After lacking the convincing budget allocations during the White House summit on Friday, market observers now express their doubts regarding the prospects of the congressional approval on Altcoins listed in the Crypto strategic reserve. This executive requires the approval of Congress on budget allocations.
In a four -day loss series, the Ripple price fell by 27.5 %, with a decrease from $ 2.70 on Friday, March 7, for a continuous test for 30 days about $ 1.90 in the daily time frame on Tuesday 11 March.
This indicates that the immediate XRP market has witnessed the intensification of the pressure pressure because the lack of condemnation at the White House summit raised doubts that the Trump administration has been struggling to obtain the approval of the Congress for the United States Treasury to purchase the volatile altcoins.
Short traders tighten control with a crane of $ 200 million
Market data trends are derivatives, the downsic expectations surrounding XRP. according to Coinglass“The latest data, the total short leverage contracts increased beyond the brand of 202.7 million dollars during the past seven days, while the long positions were reduced to only 96.6 million dollars at the time of the press.
This indicates that the open sellers capture control, which increases the risk of the negative side of the XRP in the short term. It is worth noting that the long/short percentage of the XRP/USDT pair of Binance is now at 0.992, which confirms a slight tilt towards the dominance of Habbudian.
More specifically, Binance merchants carry a short 3.382: 1 in terms of the location of the account, with a more focus on the increasing doubts about the XRP recovery capabilities.
Meanwhile, OKX merchants maintain a 2.44: 1/short, which enhances the defensive position in the broader market.
Coinglass XRP filter map reveals additional evidence of a declining momentum. The cumulative short liquidation crane is currently $ 202.74 million, as Binance contributes at $ 50.71 thousand, OKX at 181.51 thousand dollars, and bybit at 821.57 thousand dollars. This assembly indicates the levels of liquidation that short traders remain in control, and may look at a deeper correction in the event of the overall opposite winds.
More promoting hippos expectations, XRP has seen a significant rise in the qualifiers on different time frames. During the past 24 hours, the total references amounted to 27.61 million dollars, as short pants represent $ 8.31 million, compared to 19.29 million dollars in long.
This indicates that although attempts to reflect the declining direction, long merchants are constantly forced to get out of positions, which exacerbates the sale. The XRP market is still a battlefield between bulls and bears, but for the time being, the tidal clearly turned into the benefit of the sellers on the open. With uncertainty about organizational approvals that are still looming on the horizon, traders must prepare for the increasing fluctuations in the coming weeks.
XRP price expectations: $ 1.50 collapse forward?
The price of XRP tends to drop, as technical indicators indicate an imminent collapse that can send prices to less than $ 1.50. The formation of the declining flag on the daily chart highlights the main negative risks.
After a decrease of 27.53 % in four days, XRP is currently struggling without average price (VWAP) at $ 2.0643. Failure to close above this main level can confirm the direction of the deeper retreat. Bolinger ranges show the price that embraces the lower range, a sign of constant declining momentum.
The MacD chart is deep in red, as the signal line is directed down, which enhances the possibility of more weakness.
If the bulls fail to create a fixed support base over $ 2.06, it may lead to another level, which accelerates the losses towards the next main support near $ 1.50.
However, a bullish scenario can appear if the XRP buyers pushed over VWAP and restore the medium range of Bollenger teams about $ 2.38, which nullifies the landfill. Until then, the sellers remain in control.
Related questions (common questions)
The price of XRP decreased due to the total economic uncertainty, the increase in the open sale, and weak support at the two dollar levels.
Merchants must monitor $ 2.06 as a resistance and $ 1.50 as decisive support in the event of continuing dumping momentum.
A strong batch to recover $ 2.38 can nullify the landfill and a renewable signal in the upward direction.
Ibrahim
The encryption analyst that covers the derivative markets, macro trends, technical analysis and Defi. His business is characterized by in -depth market visions, price expectations and institutional research on digital assets.
Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.
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