XRPBetween 28-29 August, it lost 4.3 percent in the 24 -hour period and fell from $ 3.02 to $ 2.89. While the transaction volume increased above the average, South Korean investors collecting 16 million XRP from the stock exchanges and withdrawing them to their personal wallets allowed the price to hold on top of the support levels. Despite the sales pressure in Altcoin, purchases became a strong recovery signal.
South Korean investors’ purchases support XRP
Blockchain Data In the last 24 hours South Korea 16 million XRPs (about 45.5 million dollars) from the centered stock exchanges are withdrawn. These shots indicate that regional institutional demand balances individual sales pressure. South Korea, speculative in the past crypto currency He came to the fore with his transactions and became one of the markets that determine the direction of prices. Kimchi Premium This effect, known as, is also decisive on price movements throughout the market.
Big wallets in the region XRP Coin The accumulation reveals that the price of Altcoin has found support at the bottom levels. Dogecoin through the market in the same period 
$0.000337 While $ 200 million outputs were observed on the side, the XRP accumulation of South Korean investors created a remarkable opposition. The table shows that the distribution and accumulation processes on a global scale are strikingly decomposed.
Xrp ledger Mobility increased on the side. Within three days, there was a 20 percent rise in active addresses. In addition, China -based Fintech company Linklogis integrated the trillion -dollar supply chain financing platform into XRP Ledger.
Technical indicators also strengthen the likelihood of recovery
XRP price During the harsh decline on August 28, it descended to $ 2.77, but rapidly recovered from this level with strong purchases. The 24 -hour volume increased to 96.19 million coins and doubled above average. The $ 2,85–2.86 band for Altcoin stands out as a critical support/resistance zone in the short term. The purchases from this level enabled the price to move upwards on the morning of August 29th.
Technical indicators indicate that the probability of recovery is strong. Rsi The indicator rose from 42 to 50 to the excessive sale zone. Macd The narrowing histogram in the gauge indicates the rising intersection if the receivers maintain the pressure. $ 2.91 is monitored as short -term resistance, while $ 3.02 continues to be a critical threshold. A permanent breakdown that will be above this level is considered the first sign for the price to turn to $ 3.20.
Some analysts symmetrical triangle And dual bottom He says that their formations are combined with the formation of a wider cup of handle formation. If Cup Formation If it works, medium -term targets extending to the $ 5–13 range may come up again. However, the price should not be ignored to decrease below $ 2.77 and the risk of decreasing up to $ 2.70 should not be ignored.
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.
