The Ripple currency #XRP has returned to the spotlight, recording a daily trading volume exceeding 3 billion dollars, amid a notable recovery following its recent decline, according to CoinMarketCap data. This renewed momentum comes as investors respond to market dynamics and a significant development in Ripple's long-standing legal battle with the U.S. Securities and Exchange Commission (SEC).
XRP rises above $2, gaining strength in the market After dropping to a session low of $1.94 on Friday, the XRP currency recovered strongly, regaining important price support. By Saturday, the price of the currency had risen to $2.15, marking a 5.52% increase over the past twenty-four hours.
This recovery followed a significant on-chain movement involving Ripple, with 200 million XRP - valued at over 402 million dollars - transferred to an unknown wallet, sparking curiosity among analysts and market watchers.
Market metrics reflect changing investor behavior Glassnode, a blockchain analytics firm, revealed that the recent sharp rise in XRP's price in February was largely driven by the influx of new capital. During that period, XRP's realized market cap surged significantly from $30.1 billion to $64.2 billion, an increase of nearly $34 billion, primarily fueled by the entry of new investors. $BTC $XRP $ETH #SECGuidance #BinanceSafetyInsights
What if all these new trade deals that Trump is working on with over 70 countries aim to acquire $XRP as a means of exchange? This could be a precursor to abandoning the SWIFT system. Once the new deals are implemented, an external tax authority will be established. Just a thought... #SECGuidance #CPI&JoblessClaimsWatch #SecureYourAssets $BTC $ETH $XRP #BinanceLaunchpoolWCT #BinanceVoteToDelist
$BTC $ETH $XRP The daily chart for Ethereum shows the price reaching a critical historical demand area coinciding with a clear oversold condition on the Relative Strength Index (RSI), which may indicate that the market has entered a bottoming phase or is forming a temporary bottom.
We notice that the price dropped sharply and broke the yellow area, which is a historical support zone, before rebounding sharply, suggesting that the break was false. This behavior is considered a classic signal of the beginning of a trend reversal. If the movement and buying momentum continue strongly, we will see the price move to the following levels as initial targets:
$1893
$2353
$2849
With strong buying momentum achieved, we may see targeting the $3757 level followed by $4200 in the medium term.
I see this scenario as realistic based on my observation and the use of some technical tools, alongside behavioral reading that clearly shows a strong rejection of continuing to drop below the 1500 areas.
⚠️Important Note: If the last bottom is broken with a clear daily close, this outlook will be considered invalid, and we will reassess based on new data.
Did you know, dear trader, that 99.9% of the total cryptocurrencies only account for 7.5% of the market liquidity? While only ten currencies account for 92.5% of the market liquidity. Leading the way is Bitcoin, which accounts for 69% of the liquidity in the cryptocurrency market, followed by Ethereum in the second position, currently accounting for 8% of the market liquidity, and then XRP in the third position, accounting for 5% of the market liquidity. $BTC $ETH $XRP
Now, after the suspension of the U.S. Securities and Exchange Commission's case, do you think that #XRP will rise significantly or gradually? A gradual rise will push shareholders to sell at different prices. $5, $10, $20, $50, $100? A massive price increase will cost anyone who does not hold it an immediate loss, but all shareholders will benefit, what do you think?