- summary:
- The price of XRP increased by more than 4 percent last week, but it faces resistance at $ 2.47. What is it required to break this barrier?
The XRP price was traded down on Tuesday, as the resistance continued at $ 2.47. The currency formed a long tail to reject this level, indicating that upward momentum is exhausted. XRPUSD was at $ 2.44 at the time of writing this report, after it calmed down from the top of $ 2.47.
The weekly momentum on the price of XRP tends to climb, as the currency has gained 4.6 % in the past seven days. In addition, the trading volume decreased 24 hours by 17 % at the time of the press, indicating a decrease in the pressure pressure amid the low price of XRP. This is likely to provide support in the near term of the bullish momentum of the currency, which increases the possibility of a break above $ 2.47.
Why can the XRP price explode
PRICE XRP has strong bullish feelings resulting from the Securities and Stock Exchange Committee’s decision to withdraw its appeal against Ripple Labs. However, the upper trend is limited so far due to concerns of the commercial tariff war and the issuance of the delay in the Supreme Education Council for an official statement confirming the withdrawal of the appeal.
However, the coming days can witness that XRP explodes strongly, as US President Donald Trump indicates the willingness to settle on mutual definitions that are expected to start from April 2. In addition, SEC will almost confirm its pulling pulling. This scenario prepares the XRP price to run a potential lunch.
XRP prediction price
The momentum on the price of XRP calls for more bullish direction above the axis mark at $ 2.43. Buyers are likely to fulfill a resistance of $ 2.46, but the strongest momentum can enable them to break this level and perhaps the second resistance test at $ 2.47.
Instead, the momentum can turn into the downside if the Xrpusd pair breaks less than $ 2.43. With sellers control, the downward momentum is likely to find the first support at $ 2.41. In addition, the breaking of this level will nullify the upper trend. Also, the resulting momentum can extend the downside and test $ 2.40.
