XRP Price Faces Major Resistance Test, Will It Pass?
The post XRP Price Faces Major Resistance Test, Will It Pass? appeared on BitcoinEthereumNews.com.
Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. After experiencing a few days of market volatility, XRP faces a crucial resistance that will determine its future price trajectory. Market participants are anticipating XRP’s next big move. XRP key resistance The price of XRP is currently pegged at $2.20, down 4.9% in the past 24 hours. Within this time frame, XRP touched a high price of $2.31, underscoring how much the resistance wall lies at the $2.30 level. Related The daily chart shows that XRP has yet to enter a consolidation channel that would later become a foundation for recovery. Instead, bears have been continuously pushing ADA down, as seen in the daily decline. XRP 1D Price Chart. Source: CoinMarketCap Also, traders are slowly dropping support for the crypto, as the volume profile indicates. Within the last 24 hours, the trading volume declined by 14.16% to $4.6 billion, showing reduced investor interest. XRP has stayed above the $2 threshold despite its intense bearish pressure. If the bulls can make a comeback, the move to flip the $2.30 level could be successful in the short term. However, traders are unlikely to see sharp ups or downs in the near future. Massive XRP outflows Meanwhile, U.Today reported a mysterious large-scale transfer of XRP coins to the leading U.S. crypto exchange, Coinbase. Notably, over 30.17 million XRP, valued at about $69.24 million,…
Filed under: News - @ December 26, 2024 11:20 am