#اخبار_الكريبتو_العاجلة #عملات_رقمية #اقتصاد_الشرق #wct $XRP
The price of XRP is currently trading at $2.90.
The daily trading volume has increased by more than 145%.
The trading day began with a slight increase in market capitalization, causing all major digital assets to register a slightly green performance. It is noteworthy that the overall downward trend still persists. Major currencies like Bitcoin (BTC) and Ethereum (ETH) hover around $111.2k and $4.2k respectively. Notably, the price of Ripple (XRP) lit up a green candle.
Extended bullish pressure will push the price of XRP to its recent highs, breaking through the $3 barrier. In the morning hours, the price of the asset dropped, recording a daily low of $2.82. It then broke through the major resistance levels at $2.85 and $2.88, confirming a short entry for the bulls, and the price rose to a peak of $2.91.
According to CMC data, as of the time of publication, the value of XRP has increased by over 2.63%, trading at a level of $2.90, bringing its market value to $173.54 billion. Furthermore, the daily trading volume of the asset has risen by over 145%, reaching $4.98 billion. Coinglass reported a liquidation of $7.12 million of XRP in the market over the past 24 hours.
Can the price of XRP witness more gains from here?
The convergence and divergence line of the moving average for XRP is above the signal line, indicating positive momentum in the market. The higher the MACD indicator rises, the stronger the upward trend becomes. Additionally, the Chaikin Money Flow (CMF) indicator is at 0.07, suggesting that the strength is modest, with slight buying pressure. This indicates a flow of money into the asset.
In light of the current bullish trend for the asset, the price may find its nearest resistance level at around $2.96. Any further bullish correction could lead to a golden cross, possibly pushing the price of Ripple above the range of $3.02. If the upward trend fades, the altcoin may decline and test the support level at $2.84. In a severe bearish scenario, a death cross may form for XRP, pushing the price down to a low of $2.78.
Moreover, the daily Relative Strength Index (RSI) at 62.34 indicates moderate upward momentum. Buyers are also in control, and if the value increases, it may reach overbought territory. The reading of the Bull Bear Power (BBP) for XRP at 0.0878 suggests slight bullish dominance in the market. Since the value is positive, albeit modestly, bullish pressure is present, but not strongly.
