The XRP market has seen a large gathering on the last day after SEC confessed to ETF Fill in Grayscale from XRP. According to data from CoinmarkketCap, Altcoin has increased by 11 % to a local peak of $ 2.81 before suffering from a significant decline to $ 2.39. With the height of XRP again, investors should notice that the basic principle must expand certain prices to check their current upward momentum.
XRP must exceed $ 3.40 to keep the market attention
The famous market analyst EGRAG Crypto shared an interesting analysis of the XRP market. in X post On February 14, the Crypto expert states that the third largest encrypted currency must achieve a strong closure above $ 2.75 (a green mark) to maintain its current upward direction.
Based on historical data, $ 2.75 provided a large resistance level. If XRP can close and keep over this price area on the trading chart for 4 hours, this will indicate that buyers control the market after a month of losing the main prices.
After that, Altcoin should get another price exceeding $ 2.94 (it was marked in yellow), indicating a higher bullish momentum with great potential for the highest new levels such as $ 3.22. For the XRP market, each of them is closely close to the specific price levels of which strengthens the current upward momentum.
However, EGRAG Crypto warns that all price movement is under the current 3.40 dollars will remain just a “noise” in the long run. The analyst warns that XRP should break this psychological price level to confirm a specific direction in the upward direction.
Market Overview XRP
At the time of the press, XRP is trading at $ 2.73 after a total profit of 6.43 % over the past 24 hours. Asset trading volume increases by 66.61 %, indicating an increase in the level of interest in the market participants. On the 7 -day graph, XRP includes 13.78 % gains, reducing its monthly loss to about 8.39 %.
In the midst of the last price decline, the feelings of society in the XRP market remain very optimistic, especially as XRP potential ETF advances. By recognizing the ETF app for GrayScale, SEC is allowed for a 45 -day initial review period – which is likely to be extended to 240 days – to agree or reject the proposed ETF.
By implementing the pro -causes agenda in Donald Trump, investors are very positive about approval, which indicates a possible flow of institutional capital as shown in the investment funds circulating in Bitcoin.
