XRP, the fourth largest encrypted currency, is traded by the market value, in red, amid a mixed commercial procedure in the wider encryption market.
The policy meeting in the federal reserve begins for two days today, on Tuesday, and will continue until Wednesday, when investors expect to issue a interest rate decision.
Federal Reserve Chairman Jerome Powell repeated that the central bank is unlikely to reduce interest rates, and that markets expect interest rates to remain stable at the end of the meeting. However, investors will closely monitor Powell data after meeting indicators of economic slowdown or monetary policy changes.
At the time of the press, XRP has decreased by 4.44 % in the past 24 hours to $ 2.23, with almost all cryptocurrencies at the top of 10, TRX (TRX) in red.
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The encryption market is still in a state of flow, with fears related to macroeconomic economics and federal reserve policies that affect investor morale. XRP, like many other digital assets, was affected by the transformation of the market dynamics, which increased speculation about its next step.
Possible scenarios
In the midst of the continuous uncertainty in the market, analysts closely monitor the key levels, as XRP looks at a possible decrease to $ 2 in the event of condensation of sale pressure. This main level is necessary for pregnancy to prevent XRP downsides.
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XRP rejected $ 2.47 on March 15, and is scheduled to specify two days of three days of decline from this day. As shown, additional decreases may target $ 2.
To move forward, it may complete a break and closing less than two dollars of the head and shoulder style. XRP may decrease to $ 1.28.
On the other hand, if the XRP price increases from its current level and separates from the SMA for 50 days at $ 2.49, it will pave the way for a possible climb to $ 3. Another possibility is that XRP can combine SMA for $ 50 and $ 2 for a little longer before making its next step.
