The XRP price fell 8 % during the weekend, reaching $ 2.3 at the time of the press on March 16. As Ripple advances in its legal battle and new brands, how will XRP market interact next week?
Ripple (XRP) decreases by 8 % to finish the winning chain for 4 days
Ripple (XRP) emerged as one of the most important high -performance assets last week, supported by the renewal of optimism in the continuous legal Ripple battle with the US Securities and Stock Exchange Committee (SEC).
On Thursday, FOX analysts stated that SEC is studying the XRP classification as a commodity as part of the ongoing settlement negotiations to end the long -term issue against Ripple. According to SEC, the current regulatory treatment of Ethereum is used as a standard in its deliberations.
If this re -classification is achieved, it may significantly enhance XRP’s possibilities for approval of ETF and their potential inserts in strategic encryption reserves. However, after four consecutive days of the green candles of the Ripple price, driven by SEC’s re -classification speculation, it seems that another major regulatory title has reduced the rise in XRP prices.
Why did the XRP price decrease today?
After a four -day winning series fueled by speculation that SEC may classify XRP as a commodity, it seems that the main announcement of the last European Technology Committee has stopped the gathering.
On Friday, March 14, the Supreme Education Council announced its decision to stop the approval of the investment funds circulating in Altcoin, which led to a decrease in the best Altcoins prices during the weekend, especially those who have ETF files in progress.
This development is partially explained by the reason for the XRP price now by 8 %, as it decreased from its peak on Friday from $ 2.49 to $ 2.29 from March 16.
Mashqat market analysis and flashing signs of early apostasy
Although the last prices have declined, the XRP Derivatives market standards indicate that the upscale feelings may still play. First, newer Coinglass data Offers, XRP trading volume increased by 12.11 %, to reach 6.05 billion dollars. This indicates that despite the withdrawal of prices, there is still a great activity in the market.
Also, 24 -hour liquidation data (Rekt) is $ 11.58 million, with $ 8.98 million in long positions and $ 2.60 million in short positions. This indicates that despite the Longs losses amid the low weekend, the open sellers are now under pressure if the price stabilizes.
XRP’s open interest decreased by 6.70 % to $ 3.14 billion, indicating that the positions learned are relaxed. This may indicate the end of the current correction, which leads to the stage of the stage of a new upward arrangement if the request is launched.
With the size of strong derivatives and long situations that exceed short pants, the market appears to determine its position in a recovery. If the broader feelings improve and clean organizational fears, XRP can restore momentum in the coming days.
3 major events that XRP must watch next week
The XRP correction phase appears temporary, as the indicators of the derivative market indicate the continuous upward momentum. Below are the main factors that affect price movements this week:
1. The brand files are rippled for a new encryption portfolio application
According to the hadith Media postsIt was reported that Ripple has applied to a brand called “Ripple Customy”, which is hinting to a possible new product that focuses on encryption storage solutions.
This development can pay the attention of the new investor next week. For optimistic market monitors, Ripple is now in the Pole to take advantage of international partnerships, and the friendly organizers to charge new innovative products that have been hindered during years of long litigation.
2. The US Federal Reserve Decision on February 19
The upcoming Federal Reserve meeting will play a decisive role in shaping the broader market morale. Any hints of the monetary policy can provoke an increase in risk appetite, which is likely to benefit from XRP and other digital assets.
3. SEC depends on the approvals
SEC temporarily stopped decisions on Altcoin ETF applications, but industry analysts expect continuous discussions. Strategic investors will warmly invest from the sound devices, and the main ETF sponsors in the coming weeks.
XRP: Bulls Eye 2.80 $ Rebound
XRP price expectations indicate that the broader encryption market is being implemented, which paves the way for the next movement of XRP. XRP/USDT a mixture of monotheism and fluctuation, but the main technical indicators indicate a possible recovery. Keltner (KC) is behaving at $ 2.35 as an immediate resistance, and the collapse above this level can open towards the upper KC range near $ 2.77.
RSI in 47.49 sitting in a neutral area, indicating any case that is overlooking the peak and no. However, its last reversal of 40 indicates an increase in bullish momentum. The continuous climbing of the relative power index above 50 would enhance the issue for the continuation of the upward trend.
Although the last 8.38 % decreased in one session, the size of the size shows a healthy recovery, as the previous ups in the upcoming days recorded more than 1.25 billion in size – a sign that buyers are still involved. If XRP is able to keep support near $ 2.30, bulls can regain control, which leads to prices to $ 2.50 in the short term and $ 2.80 in extension.
On the other hand, failure in obtaining $ 2.30 can call for a deeper recovery, and the KC range may experience less than $ 1.92. However, given the flexibility of XRP in modern sessions, the momentum is currently preferring an upper scenario
Related questions (common questions)
XRP decreased by 8 % after the Supreme Education Council announced a stop of ALTCOIN ETF approvals, which led to a wider decrease in the market during the weekend.
Yes, derivative data shows high trading volume and bullish feeling, indicating a potential recovery if market conditions improved.
Providing new brands for Ripple, the upcoming federal reserve decision, and more organizational developments in ETF are decisive factors for price movement.
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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