The XRP could not realize the expected rise despite the victory of the Second victory. So why is investors still cautious? Ripple’s prevailing from the SEC case aroused a great impact in the crypto world. However, the price of the XRP could not show a strong rise despite this positive news. Experts, whale sales and lack of market confidence due to a cautious period, he says.
Whales sells, investor confidence decreases
With the end of the Ripple case, there was a great expectation of rise. However, the market reacted in reverse. According to centimeter data, whales that hold 100 million to 1 billion XRP sold 20 million XRP. The value of this sale is about 50 million dollars.
This decline tendency continues despite Ripple’s legal victory. Large investors do not act in the direction of purchase. On the other hand, social media analysis shows that investors are cautious. The weighted sensitivity index of the XRP fell to 0.052.
The fall of this metropolitan to negative shows that investors have lost confidence in the short term. The falling interest and transaction volume increases the price pressure.
XRP price in the dangerous area: $ 2.61 or $ 1.47?
The XRP is currently trading for $ 2.39 and has a strong support line in $ 2.13. However, if the market pressure continues, this support may be broken. In this case, the price may decrease to $ 1.47.
Analysts say that the price of the price to this level can trigger more panic sales. On the other hand, $ 2.61 may be the target of $ 2.61 if the demand is increased and profit sales stop. For this, investors should gain confidence and increase the purchase volume.
Expert Interpretation: “Legal victory does not rise alone”
According to Crypto Analyst Lark Davis, Ripple’s victory against SEC is important but not enough. Davis said that winning the case without investor confidence will not fly the price, the movement of the whales should be paid attention.
For XRP, the key point will be the return of social sensitivity to the positive and increased purchase -oriented processes. According to Davis, a horizontal course is possible instead of a strong move in the short term. Nevertheless, large support zones should be carefully monitored. In this process, investors should closely monitor both technical indicators and whale movements. In a possible positive breakdown, XRP may re -become the center of attention of the market.
