XRP Bulls returned on April 9 after a three -day decrease, raising the price from its lowest $ 1.72. Steam’s recovery has gained during the following two sessions, with XRP deployed consecutive daily gains and reaching the highest level during the day $ 2.24 in today’s trading.
However, the gathering appears to face resistance on the simple daily moving average (SMA 50), which is currently $ 2.25. This technical barrier works as the first major obstacle for bulls in an attempt to the current upward trend.
SMA Daily Sma Daily’s Daily of XRP is a wide indication by merchants and analysts. This main level is very important because it was a previous support and has now turned into resistance in the current XRP cycle.
In order for the XRP to continue in its upward direction, a decisive break and the closure of more than $ 2.25, which is a daily SMA, is very important. This may re -test stronger resistance levels at $ 2.6, and eventually $ 3.
As is the case, bulls are tested not only through resistance levels but also with caution at the market level, as encryption traders weighing macroeconomic factors and risk morale.
If XRP fails to break SMA for 50 days, it may suffer from a decrease, it is likely to re -test the 2.00 dollar level. The additional decrease on Daily SMA 200 may drop at $ 1.88 or even the lowest level at $ 1.72.
XRP Design the trading volume on Upbit
XRP currently leads Upbit, the largest encrypted currency exchange in South Korea, strengthening its position as one of the most used digital assets in the region.
Related
According to CoinmarketCap DataXRP topped the main cryptocurrencies, including Bitcoin and Solana, in Upbit trading volume, indicating a new interest from Korean merchants. This increase in size coincides with the increased volatility in the wider encryption market.
The first XRP ETF appeared in the United States for the first time last week, with $ 5 million in size. ETF was launched from Teucrium 2x Daily Daily ETF at $ 5 million in trading volume, which puts it at the top of 5 % of all new ETF launches. ETF seeks to provide daily XRP returns twice through swap agreements, with the use of products traded on the European Stock Exchange as reference rates.
