CRYPTO MECHANIC
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XRP ETF got approved but the price barely moved. It only went up around 2%. Many people are asking why. Let me explain.
$XRP has been trading around $2 for a long time. During the recent market dump, XRP didn’t fall much. A lot of buyers are already holding XRP in this range and they’re not willing to chase it more.
For the price to move higher, the market needs new money and more liquidity. Right now, there isn’t enough fresh money coming in. An ETF approval is good news, but it alone cannot pump the price without new buyers.
The XRP chart still looksfine as holding its support zone well.
Maybe we will see it does something when new week starts or the ETF starts. But so far XRP is lacking volume for the last few days.
$XRP has been trading around $2 for a long time. During the recent market dump, XRP didn’t fall much. A lot of buyers are already holding XRP in this range and they’re not willing to chase it more.
For the price to move higher, the market needs new money and more liquidity. Right now, there isn’t enough fresh money coming in. An ETF approval is good news, but it alone cannot pump the price without new buyers.
The XRP chart still looksfine as holding its support zone well.
Maybe we will see it does something when new week starts or the ETF starts. But so far XRP is lacking volume for the last few days.
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