The price of XRP declined from $ 2.51 to $ 2.4 with the decreases in the market. Although the recovery in the last days gives hope, the last decline broke the morale of investors. The famous market analyst Casitrades predicts that the XRP price can be withdrawn to $ 1.5. Here are the lock levels and recovery signals to be considered.
XRP’s recent performance
The XRP is traded for $ 2,41 by losing 3 %in the last 24 hours. Token’s trading volume was around 4.46 billion dollars, while the lowest 24 -hour low and highest levels were $ 2.38 and $ 2.51, respectively.
When we look at the technical indicators, the relative power index of the XRP (RSI) has declined to 38. This shows that crypto currency is approaching the over -selling zone and can signal a possible recovery. Past data reveals that upward movements often begin when these levels are reached.
Critical Warnings of Casitrades
Market expert Casitrades said that if the current consolidation process of XRP continues, the price may fall to $ 1.8. The analyst warned that this level is a critical support and that the price may decrease to $ 1.53 if this support is broken.
However, the analyst said that a break above $ 2,92 could trigger the bull market. In this scenario, XRP may be able to reach $ 3 again. The market will currently determine a clear direction in the decision phase and in the coming days.
Can the XRP price return to $ 3?
The XRP price has been traveling horizontally at $ 2.4 for the last few days. Some market analysts argue that XRP’s future movements may be positive. In particular, the speculation of Ripple’s SEC case can be concluded soon creates optimism among investors.
In addition, the possibility of XRP ETFs will soon be released. This investment tool can increase the charm of XRP and bring a new wave of purchase to the market. However, the decrease in the amount of open position in futures to a decrease of 5 %to $ 3.55 billion shows that the market is still uncertainty. XRP investors continue to move carefully while waiting for a long -term recovery in the market.
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