On February 6, the XRP price recorded a 2.2 % loss to reach the current trading price of $ 2.32. The pressure pressure can be attributed to the wider market effect and post -peak correction stage to renew the bullish momentum. However, the last deposit of the 19B-4 forms by CBOE for the four ETFS XRP can provide a bullish incentive in the market.
The most prominent major events:
- On January 6, CBOE presented 19B-4 models on behalf of Bitlise Invest, 21shares, Wisdomtree and Canary to include and trading ETFS XRP.
- Ripple, which maintains the 200 -day SIA moving average, indicates that the broader market is upward.
- The REECKING FIBONACCI Tool indicates $ 2.3 and $ 1.7 as a support for the main withdrawal because it coincides with FIB levels 38.2 % and 50 %.
ETF XRP approval also offers 19B-4 models
Exchange Options Chicago Board (CBOE) officially presented 19B-4 models on behalf of BitWise Invest, 21 Shars, Wisdomtree and Canary to include and trading boxes circulating in XRP (ETFS) exchange.
19B-4 models are the second step in the ETF approval process after the S-1 exporters are submitted. While the 19B-4 filling does not guarantee approval, the recent SEC procedures indicate a direct result of the driving change.
Once SEC confesses to receiving, the 240 -day review period begins, as the agency decides to approve or reject requests.
If approved, the ETFS XRP will provide institutional investors and retail trade. Organizational exposure to this encrypted currency, which may enhance stability in prices and increase the prevailing adoption.
Key Fibonacci supports watching XRP price
In the past three weeks, the XRP price has seen a sharp decrease from $ 3.4 to $ 2.3, according to a loss of 31 %. This correction, supported by a noticeable increase in trading volume, indicates that sellers are condemned to get lower prices.
The currency price is currently supporting at $ 2.3 and seeking support at the level of Fibonacci, 38.2 % at $ 2.28. In the event of a possible collapse, the following important support is $ 1.8, simultaneously with 50 % of FIB.
The above -mentioned levels can allow buyers to renew the exhausted climbing momentum for the next recovery jump.
Also read: SEC urges general reactions to the Grayscale Litecoin ETF suggestion
