XRP Bulls returned on April 9 after a three -day decline, stretching the price from the maximum size of $ 1.72. The recovery was received by Steam over the next two sessions, when XRP wrote out daily profits and reached an intra -day maximum of $ 2.24 in today’s trade.
Nevertheless, the rally, according to the visible, is faced with resistance with a daily simple sliding medium (SMA 50), which is currently $ 2.25. This technical barrier acts as the first major obstacle to bulls in the current attempt of the rising trend.
Daily SMA 50’s is a widely observed indicator from traders and analysts. This key level is crucial because it acted as a former support and now turned to resistance in the current XRP cycle.
For XRP, continue its tendency to increase, a decisive break and closed above $ 2.25, which is a daily SMA 50, is crucial. This can lead to re -testing of stronger resistance levels of $ 2.6 and, ultimately, 3 dollars.
How is this, bulls are tested not only by resistance levels, but also careful in the market, since crypto traders weigh macroeconomic factors and risk moods.
If the XRP cannot exceed the 50-day SMA, it may experience a fall, potentially re-testing the level of $ 2.00. Further fall can land on the daily SMA 200 in $ 1.88 or even for a recent minimum of $ 1.72.
XRP Tops Tops Trading Tolume on Upbit
Currently, XRP leads trading volumes on UPBIT, the largest cryptocurrency exchanges in South Korea, combining its position as one of the most active digital assets of the region.
According to CoinmarketCap, XRP exceeded the main cryptocurrencies, including Bitcoin and Solana, in the volume of trading on Upbit, which indicates a new interest from Korean traders. This growth in volume coincides with increased volatility on a wider crypto market.
The first XRP ETF in the United States successfully debuted last week, bringing $ 5 million. The Daily Daily ETF Teucrium Daily ETF launched $ 5 million for a trading volume by placing it in 5% of all new ETF launches. ETF seeks to deliver twice as many daily yields of XRP through swap agreements using European exchange products as reference rates.
