The price of XRP is difficult to find a clear direction because the entire market shows signs of mixing of volatility. Recently, short -term holders have been gaining profits during the price increase, resulting in a decrease in purchasing interest. However, some of the main indicators of XRP are still increasing, suggesting that a strong recoil may progress.
XRP’s public interest was over $ 1.5 billion a week.
XRP is currently working with both buyers and sellers. According to CoingLass’s data, about $ 21 million in XRP positions have been cleared over the last 24 hours, $ 17.4 million for buyers and $ 3.66 million for sellers.
Meanwhile, interest in XRP futures has been rising over the last seven days. Public interest increased to $ 54.7 billion, up more than 3.9% last day. It has soared from $ 21.3 billion to $ 53.8 billion last week, up 152%. In addition to rising prices, prices rose from $ 2 to $ 2.60 suggest that merchants are more confident in optimistic trends.
In addition, large -scale investors (whales) slowed out the leak and changed the 90 -day average net flow to positive. Historically, this kind of change often announced the end of the downward trend or the beginning of a new upward movement.
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But not all signs are positive. The XRP reserves for the exchange are at the highest level of one month, which can mean more sales pressure. Some whales also moved a large amount of XRP to the exchange.
Nevertheless, despite these weak signs, no one was strong enough to delay XRP’s recent upward momentum. The long -distance/short ratio per hour is currently up to level 1. Currently 1.1227. This suggests that about 53%of buyers expect the XRP price to rise.
If the current rally continues or at least a higher price, the XRP can maintain the overall rise in the long run. This is highly likely to be due to the judgment that can cause other price jumps, especially according to the SEC determination of the XRP Exchange-Traded Funds (ETF) expected in June.
What is the next XRP price?
The XRP price is faced with a strong weakness of $ 2.65 as the seller continues to increase. As a result, XRP has formed a number of highests and tried to penetrate the immediate resistance channel. At the time of writing, the XRP price is $ 2.55, down more than 1.8% over the last 24 hours.
Analyzing the four -hour price chart, Bulls gained more control by pushing the price to $ 2.50 or more. There is a small obstacle for $ 2.65, but if you can solve the XRP guy, you can go up to $ 3, which is a movement to verify a clear upward trend.
On the other hand, if the price is rejected to $ 2.65 and fall below the 100 -day EMA (currently $ 2.42), the XRP can be traded sideways for a while and may be hovering between $ 2 to $ 2.6.