The post XRP Price Records 13% Increase Amid Market-Wide Recovery; Yeti Ouro Gains Traction in P2E Gaming Sector appeared on BitcoinEthereumNews.com.

[PRESS RELEASE – LONDON, UNITED KINGDOM, February 6th, 2025] XRP has recorded a strong price surge after a strong dip at the start of the week. XRP price increase follows a market-wide recovery after a period of decline. However, despite the rebound, low trading volume and negative on-chain signals suggest that the rally may not last. Simultaneously, Yeti Ouro (YETIO) is showing growth within the Play-to-Earn (P2E) gaming sector, drawing attention from both retail and institutional participants due to its tokenomics structure and integration of real-world utility within its ecosystem. XRP Price Forecast: XRP Gains 13% Amid Market Recovery XRP price has increased by 13% in the last 24 hours, supported by the recovery of the cryptocurrency market. XRP price rose as it was dragged down by concerns with new tariffs imposed by Donald Trump on Canada, Mexico, and China. The suspension has brought some positive change and confidence to the market, enabling the buying interest to resume. However, on-chain data has shown that this rally may not be sustainable in terms of the price of XRP. The trading volume has also reduced by 22% in the last day, now at $22.39 billion. An increase in price with a downward-sloping volume indicates a lack of demand, which in turn leads to a pullback. More so, the Balance of Power (BoP) is at -0.57 as this indicates sell pressure on the XRP. A negative BoP implies that sellers are likely to exercise more control over the price direction, implying a higher propensity for a reversal in the downward direction. XRP Price Outlook: Assessing the Potential for Sustained Momentum XRP price is currently at $2.57 on Coinmarketcap, a 45% increase from its recent low of $1.77. If the bullish momentum fades and demand remains weak, the price could decline to $2.13. Failure…

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Filed under: News - @ February 6, 2025 6:16 am