The XRP gained approximately 7 %in the last 24 hours and rose to $ 2.22. Increased transaction volume and strengthened technical signals again turned the attention of crypto currency investors into this asset. Both the growth in network activity and analyst comments indicate that XRP can target higher levels in the coming period.
Process Volume and Technical Data Strong
The 24 -hour trading volume of the XRP reached $ 4.77 billion, showing a remarkable leap. This increase reveals that investors are turning back to the market and reassuring confidence. The fact that XRP investment products offer a relatively more stable performance at a time when large crypto currencies such as Bitcoin and Ethereum are wavy.
The data from the analytical platforms show that there is a serious rise in the activity of the network. According to Glassnode, the number of active addresses in the XRP network increased by 67.5 %in one day and reached 40,366. This ascension is a pointer of an acceleration that is supported not only by the price movement, but also for user interest.
On the technical side, the price of the XRP is approaching the upper Bollinger band on the daily graph. The RSI value is at 56.59 levels and seems to have not yet entered the extreme purchase zone. This gives hope that the rise is sustainable.
Analyst’s views and possible scenarios
Crypto analyst Dark Defender argues that the fourth wave correction of XRP’s weekly graph is about to end. According to him, the $ 2.1937 reaction points to the beginning of the fifth rise wave. This approach is based on strategies based on Elliott Wave Theory in technical analysis.
On the other hand, the evaluation of the popular analyst Ali Martinez is also rising. Martinez, XRP’s graphics of the opposite head and shoulder formation occurred, and this has a strong upward breaking potential, he said. According to him, with the exceeding $ 2.40 level, the price is possible for the $ 2.70 target.
The prominent support levels in the technical analysis are determined as $ 2.00 and $ 1.88. The resistance points stand out as $ 2,222 and $ 2.40, respectively. Investors closely follow these levels and shape their positions.
As well as the short -term rise potential of the XRP, positive signals on the medium and long -term appearance are remarkable. Both network participation and technical structures show that the price movement is on a solid foundation.
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.
