As Ripple Labs’s local tokens, XRP continues to attract great interest in the crypto market. Technical indicators give a strong recovery signal despite the recent decline. A crypto expert calls investors to be careful by stating that the XRP may rise again in the short term.
Technical indicators for XRP give a purchase signal
According to the data shared on February 8, 2025, the TD Sequential indicator gave a purchase signal for XRP. This signal came after the XRP’s recent 25 %decrease. Technical analysts recall that such signals trigger the upward movements of the price in the past.
In recent days, the XRP worth $ 18 million in the market was withdrawn from the stock exchanges. According to Coings, the On-Chain Analysis company, this shows that large investors and long-term holders have accumulated XRP. Such big outlets often indicate purchasing opportunities.
Short and long -term investor strategies
While some long -term investors accumulate XRP, the daily trading investors have a more cautious stance. According to Coings data, short -term investors received $ 32.10 million short (short) position at a level of $ 2,442. This shows that investors believe that the price will fall further.
On the other hand, the Long (long) position of $ 20.80 million is also remarkable at $ 2,346. These extreme leverage positions carry rapid liquidation risks due to price movement. When the price exceeds these key support and resistance levels, large movements may occur.
XRP’s current price performance
The XRP is currently traded for $ 2.42 and has made a small increase of 0.15 %in the last 24 hours. However, the transaction volume fell by 3.5 %in the same period. This shows that investors and traders are more cautious in the market. Recent market mobility supports these cautious behaviors.
The recovery of the price from these levels can lead to the re -acceleration of the XRP. However, investors should close their positions accordingly by closely following key support and resistance levels. XRP’s future movement will be shaped depending on market conditions and investor interest.
