XRP rose after the US Securities and Stock Exchange Committee (SEC) officially rejected a lawsuit against Ripple. The advertisement has fueled a 14 % XRP jump within 24 hours.
The assembly is supported by strong technical momentum and increased purchase activity, while XRP network The activity has also reached record levels.
XRP prices rise with benefit from buyers
Decisive technical indicator, Trend movement index (DMI), indicates that buyers control. The average trend index (ADX) increased from 15.64 to 20.4. This means that the current trend acquires strength.
ADX is not directed, which means that he does not know whether the direction is higher or down. However, along with an indicator (directional movement index) +DMI and -DMI indicators, it can indicate the direction of the market. In the case of XRP, DMI +rose from 18.3 to 39, and -DMI decreased from 19.63 to 12.97.
This indicates aggressive demand and softening the offer. If this momentum continues, the XRP price may increase more. ADX should also be over 25 years to indicate a strong direction – but this is already a good sign.
XRP users set new activity records
The XRP Blockchain activity increased, the active headlines reached a record of 1.19 million a week, an increase of about five times from 237,000 on February 27. This rapid rate of growth indicates a significant increase in participation and network adoption.
This rise in activity indicates attention from retail merchants, institutional investors and the market in general. This can lead to a decrease in XRP fluctuations and larger XRP price movements.
High active headlines generally translate into transactions, which may lead to fluctuation of prices. But the XRP price movement is still optimistic, with a golden cross-style-a major upscale index-and is about to configure as a short-term moving average with a long-term average.
If this trend continues, XRP may re -test the resistance line $ 2.648, and if the purchase pressure increases, it is likely to reach $ 2.99. The collapse above this level may lead to the price to the highest $ 3.
If the momentum fades, XRP may find it difficult to maintain its current scale. The main support level is $ 2.47. If the price decreases to less than $ 2.90, XRP may decrease to $ 2.21 or even $ 1.90.
Ripple CEO is hinting at a decrease in XRP sales
In an interview with the recent Bloomberg, the CEO of Ripple Brad Garlinghouse has dealt with concerns about XRP sales of the company, which indicated that sales can be reduced forward.
Garinghouse said that although Ripple owns 42 % of the total offer from XRP at the present time, they may not sell much at some point. I also deny that XRP’s Ripple was “lies”.
Ripple now faces an important option: are they settling with SEC for $ 125 million (money already in the guarantee) or cross appeal, which can challenge the solution of many remaining legal questions? Garlinghouse is still somewhat optimistic, noting that Ripple is financially healthy and that restoring the fine will not be a problem.
On the other hand, Ripple also expands its ecosystem and aims to make StableCoin StableCoin Stablecooin The best five rows From the market by the end of the year. This can enhance the XRP position more and enhance its long -term growth potential.
