The price of XRP increased nearly 10 % today and trades at $ 2.30. Despite the US Securities and Stock Exchange Committee (SEC) and the settlement of $ 50 million Ripple, the distinctive symbol in the gathering failed. Why? Will XRP reach a sign of $ 3?
The XRP price remains flat after Ripple settled at a value of $ 50 million with SEC
On May 8, the XRP price increased by approximately 10 %, accompanied by bitcoin (BTC), which broke the ceiling and reached 104 thousand dollars. Interestingly, Ripple and SEC made a settlement of $ 50 million yesterday, but the price failed to move. Why? It is interesting to see a long -awaited SEC conclusion for a lawsuit that cannot have a major impact on the price of XRP. In fact, the distinctive symbol decreased by 1.08 % at the time of writing this report today.
The main cause of this flat procedure for XRP can be attributed to the first engine of Bitcoin. Since everyone focuses on BTC and IT to restore $ 100,000, many people remain displaced on Altcoins, including XRP. Therefore, the XRP price is likely to take a break before tearing up to the upper direction.
Prediction at XRP: What next?
On the daily chart, the XRP price created a mysterious candle up due to a 10 % rally mentioned on May 8. This represents the symbol’s exit from a multiple decline channel, which witnessed a decrease in the distinctive code from $ 3.40 to $ 1.60. However, recovery since the lower swing mentioned above was excellent.
With the daily Candelstick over the upper direction line of the channel, the XRP price will try a higher rise. The main levels that must be monitored include 23.60 % Fibonacci at $ 2.70, followed by $ 3.67 and $ 4.59. While the goal is above $ 4.59 exaggerated so far, investors must pay attention to it regardless.
Although the Breakout channel ascends, the Supertrend Index did not turn up. This will happen if XRP flipped the resistance level of $ 2.35 to a support floor.
The Daily Chart explains that the MACD index has been optimistic since its upper intersection in early April. Due to the recent fluctuations, there were some wrong signals, but this scale remains optimistic and supports a possible gathering of XRP.
On the other hand, the collapse of the support level will create two dollars low and a hint when correcting due to the outbreak of the XRP market. In such a case, investors need to pay attention to the $ 1.79 support level that previously protected the price from slipping.
Open attention screws amid the growing upward feelings
according to Coinglass dataThe XRP open interest was $ 4.23 billion, the highest level since March 4. However, there is a big room for growth compared to the highest level at $ 7.86 billion.
In addition, the likely XRP OI financing rate extends to 0.0115 %, which reflects the growth in the upward deals. This adds the possibility of mobilizing the financial price of XRP.
in The final rulingThe Supreme Education Council is required to dissolve the pilot order imposed on ripples and launch a payment batch of $ 125 million. Of 125 million dollars, SEC will get $ 50 million to settle as a final payment. This is a bullish development for XRP and will motivate a large gathering of the distinctive symbol when the Bitcoin gathering is cooled.
Related questions (common questions)
Bitcoin penetration of $ 104,000, which turns attention and capital away from Altcoins like XRP.
Yes, XRP erupted from a multi -month fall channel and shows bullish technical references, despite the short -term flat movement.
The main resistance levels are $ 2.35, $ 2.70, 3.67 dollars, with $ 1.79 working as decisive support if the level of $ 2 fails.
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