The price of XRP is trading at 2.2378 dollars today, July 4, a decrease of less than 1 % from a day earlier. Although it has been in this range during the past few weeks, many converging factors indicate that a 50 % increase is possible.
The Ripple price has formed a similar triangular style, increases the maximum RLUSD market, and the Teucrium Silage XRP ETF acquires traction among investors.
The technical analysis of the XRP price indicates an increase
The constant unification of the XRP prices may be calm before the storm, which ultimately increases, which may occur soon. It has formed a similar triangular style in the past few months, while having tightened between the two lines.
The triangle style often leads to a bullish or declining outbreak when the two lines are about to converge. One of the ways to predict the aspect is the penetration of looking at the original direction because the penetration is usually in this direction.
In this case, the triangle pattern was formed after a ripples of approximately 500 % jumped in November last year. As such, because this is a Al -Raya Al -Saudi styleThere are possibilities to have a bullish outbreak on the upper side.
In this case, the potential target of the price will be the highest level per year to the date of $ 3.4, which is 50 % over the current level. The jump over this targeted price will indicate more gains, and perhaps to the psychological point at $ 5.
On the contrary, the main subsidy decrease at $ 1.6147 will lead to nullifying the price of the XRP price. Such a step will increase the possibility of a distinctive code to less support at one dollar.
XXRP ETF flows rise
One of the potential stimuli is the recovery of the XRP price to increase the traction in the teucrium 2x Daily Daily ETF (XXRP) among investors. It was ETF flows In all weeks since its launch in April this year. As a result, it approaches the teacher of $ 160 million in assets.
The growing flows are noticeable because the fund is 1.89 %, which makes it one of the most expensive investment funds circulating in Wall Street. In most cases, popular investment funds have expenses less than 0.25 %.
Also, the growing assets are important because its performance is behind the performance of XRP. It rose by about 15 % from the beginning, while the price of XRP jumped by 24 % in the same period.
Therefore, this performance is a sign that Spot XRP ETFS, which can be approved later this year, will be required in Wall Street. Jpmorgan analysts predict It will attract about $ 8 billion of flows in the first 12 months, a step that will boost the price.
summary
XRP price is a similar triangular style and shows signs of possible outbreak. In addition to XXRP ETF flows, other stimuli that may move the price are The roof of the RLUSD market growsand It is close to $ 500 million, and increased integration by companies.
Related questions (common questions)
The most likely expectations of the XRP price, as the next goal is the highest level from the year to the date of $ 3.50.
The main catalyst is that expensive XXRP ETF acquires flows from investors.
The main risk is that the price of XRP may suffer if the potential operating Crypto Market run fails to achieve.
Crespos
CRISPUS is an experienced financial analyst in CoingApe with over 12 years of experience. It focuses on Bitcoin and other altcoins, which covers the intersection of news and analysis. His visions were shown on famous platforms such as banklestimes, Coinjournal, Hypeindex, Seekingalpha, Forbes, Investingcube, Investing.com and MoneytransFers.com.
Leave responsibility: The content and the personal views of the author and the current market conditions reflect. Please do your own research before investing in encrypted currencies, because the author and the post is responsible for any financial losses.
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