One of the most popular cryptocurrencies in the crypto market XRP According to CoinGecko data, it has attracted attention by rising 9.1 in the last 24 hours. In this XRP analysis, we examined the reasons for the rise of XRP.
Why is XRP rising? What are the reasons for the rise of XRP? Where is the next target in XRP? Let’s find the answers to these questions in our analysis.
XRP Analysis, Why Is XRP Rising?
XRP, which is frequently on the agenda in the crypto money market, is in the 7th place according to CoinGecko data in terms of market value in the crypto money market. Let’s find the reason for the rise of XRP, which is the second coin that has risen the most with 11.2% in the last 24 hours, according to CoinGecko data.
XRP’s 4-hour chartWhen we examine the 4-hour chart of XRP, we see that XRP has recorded a serious rise with the volume entry into the crypto money market. We can see that XRP, which has already recovered with a serious momentum after the decline, has thrown itself above the $ 0.36 resistance and tried the upper resistance of $ 0.39. The main reason for this rise of XRP can be shown as Ripple Labs’ request that the lawsuit filed by lawmakers be rejected. Ripple Labs’ request for summary judgment means that the case is decided on the basis of arguments presented to the district judge without going to court.
XRP became one of the coins that buyers turned to with the volume entering the market. XRP’s next stop from here will be to surpass the $0.39 resistance. If we are going to see a decrease, the $0.36 band is the decisive level in XRP.
In addition to all these, the decisions in XRP’s ongoing lawsuit with the SEC can also be taken as a basis for determining the direction of the price.
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