XRP has shown some interesting price movements over the past 24 hours, with the increased trading activity that caught the attention of merchants. Although the size decreased by 6 %, it carries better than Bitcoin, as the trading volume decreased by 37 %. Recently, XRP has decreased to a major support zone between $ 1.95 and $ 2.10. This level was important in the past, and it is well loaded so far.
Crypto Josh analyst from Crypto World shared an update on the XRP price. According to him, XRP shows a slight rise. This comes after a high signal in RSI (the relative strength index), indicating that XRP was due to the short -term relief gathering. It is expected that the bounce or side movement for the next two or two days will continue.
Josh explains that the excessive sale signal is not a sign of the bottom – this means only that the price needs a type of reset in the short term. This excessive sale coincided with the approaching XRP price approaching the main support, which is why the price has seen this simple apostasy. The next main support level for viewing ranges between $ 1.50 and $ 1.25, and XRP rose from about $ 1.26, just one hundred of that region.
If a short -term bounce continues, the resistance is expected to be around the previous support zone, which now operates as a resistance, between $ 2.24 and $ 2.30. If XRP is able to break more than $ 2.30, the following resistance levels are about $ 2.48 and $ 2.56.
SEC closed door meeting (April 3):
SEC has set a special meeting to talk about legal procedures, administrative procedures and enforcement cases. According to reports, this meeting can help clarify the regulatory status of XRP, especially with regard to the approval of the ETFS XRP-Spot. If the news is positive, it may open the doors to Ripple to grow in the US financial market, and the CEO recently confirmed by CEO Brad Garlinghyus.
