XRP (XRP) will close the largest monthly candle in two days and surpassed the previous maximum of $ 2.07 more than 40%. Altcoin has maintained a higher rescue on a daily chart for the past three months, but struggled to establish prices for more than $ 3.40.
XRP monthly chart. Source: COINTELEGRAPH/TradingView
Altcoin has maintained more than $ 3 since January 15, but futures traders can be distressed at the price level mentioned above.
Coinbase’s XRP spot buyer, Binance is continuously active.
Retail investors have led the rally of XRP over the past few weeks and led the RIPPLE that the XRP could be added to the US strategic preliminary expenses and the Rally of the XRP for positive news about the market speculation.
Cointelegraph has reported that most of the new highs of XRP is “spot drive.” According to the new data, the trend has not yet been built in the market. In the X Post, Hyblock Capital emphasized that XRP spot buyers have been activated in Binance and Coinbase for the last 24 hours in the X post.
XRP spot, permanent volume delta (CVD). Source: x.com
However, the aggregated spot volume was a sign of decrease compared to the recent December and early January 2024. This is not strong or weak because trading activities can fall and can occur regularly during integration.
XRP 1 day chart and aggregate spot volume. Source: velo.data
Related: How high is the XRP price?
The XRP trader faces a fluid trap of less than $ 3.
Altcoin protrudes strongly to $ 2.70 in the early weeks, but recovery can be used as a disadvantage by forming a liquidity pocket. Since the rate of financing has been slightly reduced over last week, futures traders are increasing their short positions.
XRP liquidity pocket item. Source: COINTELEGRAPH/TradingView
Since $ 3 is a psychological level, most long traders can have a stop loss of less than $ 3, where market mobilizers can collect prices. If the one -hour fair value difference and the order block overlaps between $ 2.98 and $ 2.90 can be the potential bid and reverse range of XRP.
But the optimistic response between $ 2.98 and $ 2.90 must be immediate. This is because it will suggest the seller’s dominance next to less than $ 3.
XRP 4 hours chart. Source: COINTELEGRAPH/TradingView
As a result, Altcoin has long -term expectations over the last two weeks of the bull flag pattern. Altcoin aims to increase 45% after a pattern brake out between $ 4.50 to $ 5.00.
Related: Near Bitcoin Preparation for FOMC Comments with BTC Price Coils near $ 103K
This article does not include investment advice or recommendation. All investment and trading measures include risks, and readers must conduct their own research when making decisions.