Again, the XRP price has been rejected from a decisive resistance area, which can lead to a sharp decrease. The technicians do not fully support the bulls, which hints towards a potential contraction, but the feelings of the market are still somewhat optimistic, while maintaining the hopes of height alive. However, the XRP price is required to maintain a specific support area, because failure can nullify the upholstery.
In the past few days, XRP has seen huge transfers of more than $ 350 million, with the main engine to be determined as Ripple and Crypto.com. According to what was reported, they transferred approximately 50 meters and 94.3 m xrp, while the receipt portfolios are still unknown. However, previous patterns indicate that these funds may be directed at OTC deals or saving liquidity. On the other hand, Ripple XRP is re -downloaded to cover operations and install markets.
Besides, Ripple also burned 4M RLUSD after a temporary stop, which hints of the ongoing adjustments to the Stablecoin strategy in Ripple while testing the market dynamics. With no new RLUSD in the past two weeks, all eyes are in the next step for XRP as it is preparing for a possible price in the growing whale activity.
The price of XRP appears to be stuck in a decisive stage, because the small declining difference can check a strong downward step. MA 50/200 days has been close to, which showed the possibility of a potential landing intersection. Moreover, the Gosus channel has just turned up, which led to a rise in the upscale dominance that could push the price to the resistance area. Meanwhile, the relative strength index decreased and approaches the average range along with CMF, indicating a decrease in the volume of purchase and volatility.
Therefore, the price of XRP is believed to maintain a horizontal uniformity ranging between $ 2.5 and $ 2.6 for a period of time, and with increased bullish pressure, the collapse appears to $ 2.83 imminent. With this, the path to $ 3 can become completely clear, which may push the levels of new ATH.
