XRP, in the last 24 hours with a narrow range of $ 2.81 to $ 2.87, while large investors accumulate 340 million XRP. Although corporate investors have disposed of about $ 1.9 billion of XRP since July, this accumulation process creates a significant mobility in the market. So much so that the total transaction volume on the XRP Ledger on September 1 reached 2.15 billion XRP, increasing more than twice the normal daily activity. This sudden increase points to serious mobility in the market.
Future of XRP
Analysts have different views on the future of XRP. Some predict that the price may rise to the $ 7-13 range based on technical formations such as symmetrical triangles, while others warn that the price may lose momentum under the key resistance trend lines.
On the other hand, the XRP opened yesterday at $ 2.84 and closed for $ 2.85 with a slight increase. After declining to $ 2.79 during the day, it rose to $ 2.87. Technically, the key support level for XRP stands out as $ 2.82. It has $ 2.70 and $ 2.50 below this level. In the upward direction, the $ 2.86-2.88 region continues to create a strong resistance.
Psychological levels
The eye of the market is $ 3.00, a psychological obstacle for XRP. According to the technical analysis, the level of $ 3.30 needs to be broken to trigger the actual rise and achieve higher targets. The relative power index (RSI) is in the mid -50s, which gives a slight rise signal with a neutral tendency. The MacD histogram is moving towards a bull -oriented intersection. This indicates that the momentum may increase if volumes continue.
Investors and analysts closely follow a few important developments for the future of the XRP: whether the support of $ 2.82 under price pressure can be protected, a breakdown formation of $ 2.86-2.88, $ 3.00 and $ 3.30 respectively, and the ongoing accumulation of whales against corporate sales.
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.
