The recent fluctuations in the crypto currency market turned the attention of investors on the price of XRP. Although the transaction volume of the XRP declined in the last 24 hours, it has a more resistant performance than Bitcoin. While technical analysis shows that XRP is trying to hold on critical support levels, it is thought that the upcoming SEC meeting may have a significant impact on the market. Here are the latest price movements of XRP and the prominent levels for the future…
XRP price declined
While XRP exhibited price movements that attracted attention in the last 24 hours, the changes in the transaction volume entered the radar of investors. Although the transaction volume decreased by 6 %, it has a more robust stance than Bitcoin. Bitcoin’s trading volume decreased by 37 %in the same period. In the latest price movements, the XRP fell to the $ 1,95-2,10 range, a critical support zone. It has been observed that this level of support, which has played an important role in the past, has been intact for now.
Crypto analyst Josh (Crypto World) shared an update on the price movements of XRP. According to Josh, the XRP shows a slight rise reaction. One of the main reasons for this is the observation of an extreme sales signal in the Relative Power Index (RSI). This usually results in a short -term recovery movement in RSI. Josh predicts that this mild rise or horizontal movement can take a day or two.
What does the price need?
However, the analyst emphasizes that the extreme sales signal does not mean a definite footplace. This signal shows that the price only needs a short -term balance. The price movement of the XRP showed this slight reaction after a strong approach to a strong level of support. Current support levels were $ 1,50-1.25, while the XRP price bounced from $ 1.26 to $ 1.26 and returned just over this critical region.
If the short-term rise continues, the first region in which the XRP may face resistance is between $ 2,24-2.30. Above this level, the resistance points of $ 2.48 and $ 2.56 stand out.
SEC’s meeting on April 3 is eagerly awaited
The US Securities and Stock Exchange Commission (SEC) will hold an important meeting behind closed doors on April 3. Legal processes, administrative procedures and sanctions are expected to include legal processes, administrative procedures and sanctions on the agenda of the meeting. According to reports, this meeting may play a critical role in clarifying the regulatory position of XRP.
In particular, if XRP Spot ETFs have explanations about the approval process, this may open new doors for Ripple. Ripple CEO Brad Garlinghouse has recently pointed out the growth opportunities in the US financial sector in its recent statements. The decisions of the SEC seems likely to affect XRP’s market dynamics and investor sensitivity.
