Ripple $2.5The price of the XRP in the last two days remains $ 2.40. Investors are looking for signs of rise after a decline in the crypto currency market. However, according to the data provided by Cryptoquant XRP Transactions in the network increased by 12 percent. Can this revitalized chain activity be a harbinger of a new rise for XRP? Let’s take a closer look.
XRP price found support over 2.40 dollars
Volatility last week XRP price He found support at $ 2,40. This support threshold signals a possible bottom formation for the price. Increased trade tensions between the US and China and macroeconomic uncertainties have caused decreases in the general markets. However, the expectation of the US Securities and the Stock Exchange Commission (SEC) against Ripple against Ripple began to blow a positive atmosphere for XRP.
Following the last decline, on Friday, February 6, with the calm of the markets, the price of the XRP began to see signs of recovery. Popular Altchann has been consolidated over $ 2.40 for the last three days.
There is a visible increase in the network operations
XRP NetworkFollowing the stabilization of the price, the transaction volume has increased significantly. Approximately 1.7 million transactions were carried out on February 6, this number increased to 1.92 million in 48 hours. This increase in transactions shows that investors’ confidence has increased again and that they have started to increase the XRP positions during periods when prices are stable.
As the effects of the trade war between the US and China begin to decrease, there are signs that the price of Altcoin is preparing for a new rise. If the XRP may continue to hold onto the current support level and the increase in network processes, investors can target $ 2,60, the next resistance point. When this level is exceeded, the price will be able to move towards $ 3.00.
The price is currently a support of around $ 2.42 and seems to have entered the accumulation stage with the decrease in volatility. From technical indicators Macdshows that sales momentum is reduced and gives a possible return signal. However, if the purchase volume does not increase, the XRP price may fall to the next stronger support in $ 2.18.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
