Ripple Labs-Backed XRP has been US SEC for the last 24 hours. Large Cap Altcoin has a total diluted evaluation of about $ 240 billion and an average 24 -hour average trading volume of about $ 1.5 billion, and has been pumped more than 7.7 % to trade about $ 2.48 during the mid -March 20 -Thursday session for the last 24 hours.
XRP FutureS Open Interest (OI) has been pumped more than 18 % in the last 24 hours and called about $ 38.2 billion at the time of writing this article. As the XRP price volatility has increased, more than $ 36 million has been liquidated in the leverage market.
Expectation for the middle and long -term XRP price
As Coinpedia has been reported several times, XRP prices have already confirmed optimistic evacuation in six years of triangle integration. In terms of technology analysis, XRP prices are trying to start the price after the price discovery stage.
During the day, the XRP price is constantly closer than the resistance range between $ 2.7 and $ 3 to confirm the onset of the next parabolic rally. In addition, the XRP price is forming potential head and shoulder (H & S) patterns with the weakening of the relative strength index (RSI).
On the other hand, the XRP price has established a strong support level of about $ 2, which can be maintained for additional modifications in the short term.
The main factor leading XRP growth
In the second quarter, XRP demand has been rapidly promoting by institutional investors who work closely with Ripple Labs. Almost 12 fund managers, led by Beat and Franklin Templeton, have submitted XRP ETF to the US SEC.
Brad Garlinghouse predicted that this institution would approve multiple branch XRP ETFs in the second quarter of 2025 after coming out of the US SEC lawsuit.
Meanwhile, the XRPL network has grown into a strong Web3 ecosystem over the past few years. The launch of RLUSD (Ripple USD) has helped to increase the warm chain of XRPL.