$BTC ⬇️👇
Ripple (XRP) has outperformed Solana (SOL) in terms of realized value growth, indicating renewed investor confidence. According to Glassnode data, the percentage change in the realized value of XRP - the total value of all XRP coins according to their price at the time of the last move - increased by 4.2% over 30 days compared to 1% for SOL during the same period.
A significant increase in the realized value of XRP may indicate a shift in the overall mood of both retail traders and institutions, in an attempt to anticipate potential regulatory clarity or a general rise in cryptocurrency prices.
On the two-hour chart, the price has failed to rise again above the 50-period exponential moving average (EMA-50) at $2.19, and has recorded lower peaks, while the red candles with upper wicks at $2.18 confirm ongoing resistance.
The MACD indicator has also risen slightly above the signal line, and this gap seems to be narrowing, indicating a lack of strong momentum.
Important technical analysis levels:
Resistance: $2.18 and $2.22 respectively.
Support: $2.09, $2.0474, and $2.0042 respectively.
The exponential moving average that forms a resistance level: The EMA-50 is currently at $2.19.
The price outlook for Ripple remains negative unless the price succeeds in rising above the descending trend line and maintaining above the resistance level at $2.22; otherwise, negative pressures may continue.
XRP trading opportunities worth monitoring
As the price of Ripple stabilizes below the resistance level, traders should monitor specific and clear levels when setting buying and selling strategies.
Speculation on price decline:
Entry: Below the level of $2.18
Stop loss: Above the level of $2.22
Target levels: $2.0936 and $2.0474 respectively
Speculation on price rise:
Entry: If the price rises and closes above $2.22
Stop loss: Below the level of $2.18
Target levels: $2.27 and $2.3365 respectively
Current fundamentals indicate increased investor interest, and the price should follow with a clear breakout to confirm the next upward wave. Until then, XRP remains at a technical crossroads.
This disparity means that investments are flowing into XRP at a faster pace than SOL, reflecting traders' accumulation of XRP in the short term to anticipate its potential large price movements. The realized value indicator, for its part, gains particular importance during periods of uncertainty as it indicates the value of funds that have actually moved on the blockchain, not the market value affected by short-term price movements; an increase in realized value is often associated with increased blockchain activities and investor confidence.
