XRP trading price opened at $ 2.25 on Thursday 19 March, with major derivative trading signals that tend to rise before the US Federal Reserve. Can XRP violate the resistance price of $ 2.5 in the upcoming trading sessions?
The price of XRP remains less than 2.30 dollars, as investors convert the focus to low -perfect altcoins
Ripple (XRP) was among the most prominent performance last week, driven by reports that the US Securities and Stock Exchange Committee (SEC) was studying XRP classification as a part of the settlement talks with Ripple. The expectation that this step will eliminate a major organizational obstacle to Altcoin ETF’s approvals fed a strong gathering.
Investors flocked to XRP, along with the most important disturbances such as Litecoin (LTC), Cardano (ADA), and HEDERA (HBAR), with ETF approval, all of which have published dual -number gains before facing corrections this week.
However, this week, the momentum has turned away from XRP with the appearance of new ETF developments. The SUI Spot Etf – Altcoin ETF Sixth file – on the NASDAQ side, has led the Polkadot ETF application to pay the attention of the new investor. As a result, both DOT and SUI have witnessed a noticeable price increase.
The broader market analysis indicates that investors are in capital one of the best winners last week, including XRP, in the pursuit of these emerging accounts.
This rotation has left the trading of ripple prices less than $ 2.30 on Thursday, with a decrease in the trading volume, along with other major altcoins as well as LTC, Sol and Ada, which all have seen increased pressure pressure over the past 24 hours.
XRP traders take a cautious but optimistic position in front of the Federal Reserve Average decision in the United States
While the price of XRP has struggled to keep the momentum this week, investors have rotated the capital to emerging altcoins such as Polkadot (DOT) and SUI, driven by new ETF novels. Despite the declining feeling in the immediate market, derivative trading data reveals more optimistic expectations, as traders put themselves for their potential in front of the US Federal Reserve’s decision.
Three vital derivative trading indicators assembled by Coinglass On Wednesday, which indicates an imminent bullish reflection in the momentum of the XRP price:
1. The size of XRP 7.34 % climbing with an open interest rise
The XRP derivative trading volume increased by 7.34 %, reaching 5.05 billion dollars, while the open interest (OI) – the total value of active future contracts – increased by 1.85 % to $ 3.19 billion. These signals grow market participation, with traders opened actively new sites in anticipation of increased fluctuations. The rise in OI usually reflects confidence in an imminent price step.
2. A long/short percentage indicates the bias of the upscale financial lever
On leading stock exchanges, XRP merchants show a strong tendency towards long sites. The long/short percentage is on Binance XRP/USDT 2.394 accounts, which means that there are approximately 2.4 jobs for each short period. Likewise, the long/short okx ratio is 2.01, which enhances the upscale view. When merchants preferred inappropriately, it often indicates the expectation of the rising price movement.
3. Low the sales side qualifiers with bull control
The XRP sales references have decreased significantly, indicating that the declining pressure is abandoned. On the contrary, the references have risen on the purchase side, indicating that the traders are in place in a progressive price step. This transformation reduces the risk of negative fluctuations and supports the issue in order to gather possible recovery.
Expectations in the XRP market:
Although the short -term price uniformity is less than $ 2.30, XRP derivatives appear to be located in the upper achievement of about $ 2.50. With the high open interest, the positive/short positive percentage, and the low references of the sale side, XRP may be prepared for an upward movement-controlling the broader market reaction to the Federal Reserve Average decision on Wednesday.
XRP price expectations: $ 2.50 may stimulate more gains
XRP price expectations are still optimistic that the price unifies about $ 2.28, as technical indicators show mixed signals before the potential collapse. The Bollinger Bands (BB) point remains at $ 2.33, a major resistance level, while the lower BB at $ 1.95 provides strong support. The decisive break exceeding $ 2.33 may lead to a momentum of about $ 2.50, as the collapse may feed on an extended march.
The MACD Index flashed the early signs of the upper intersection, as the MACD line moves up towards the signal line, indicating the high declining momentum. In addition, the graphic rods are transmitted from red to green, which enhances the possibility of an upper reflection. The previous 30 % gather within four trading sessions, highlighted in the chart, putting a precedent for the XRP capacity as soon as possible.
However, the last 7.88 % decline during the last four sessions provoke caution. The failure to restore $ 2.33 can be seen a decrease in more declines, with $ 2.00 as the next main support. The trading volume of 609 meters during the last decline indicates some frequency among buyers. If XRP is able to keep the momentum and break $ 2.50, it may target $ 2.70-2.90 dollars in the coming weeks. On the contrary, rejection of the resistance can lead to more uniformity of the downside.
Related questions (common questions)
The price of XRP is unified less than $ 2.30, with major indicators distributed to mixed signals. The outbreak of above 2.33 dollars can pay about $ 2.50.
The price of XRP is affected by the derivative market activity, ETF developments, regulatory news, and macroeconomic events such as the United States Federal Reserve Decision.
XRP remains a strong competitor between Altcoins, especially with possible ETF approvals and organizational clarity, but market risks should be considered.
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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