Main takeout:
XRP has increased by 25% since April 7, with an open interest increase by 32%.
Positive spot market activities contrast with neutral futures financing ratios and emphasize tug -of -war between merchants.
Analyst still has two digits of XRP.
The XRP (XRP) price fell to $ 1.61, which was $ 1.61 on April 7, but it has increased by 25% as the larger password market has recovered and the XRP public interest has soared over the past two weeks.
Altcoin’s public interest increased from 32% to $ 4.4 billion to $ 41.3 billion between April 21 and 23, informing the profits of derivatives traders. Gift OIs, which are increasing with the price, have optimistic feelings, but Velo’s data draws another picture.
Based on the negative aggregate premium for the public interest, the XRP futures market continued to bid for the XRP price increase. The financing rate is close to 0 and suggests the neutral position between the bull and the bear.
Spot tape cumulative volume delta, which was compiled in April, was positive. This indicator measures the sequential gap between aggressive purchases and sales transactions on various exchanges. If it is changed to green and rises more than 0, the purchase pressure increases with the market purchase transaction that surpasses sales transactions.
Despite the increasing interest in the future, data suggests that the price of XRP remains for tug -of -war between the optimistic field market activities and the permanent future of weakness.
Related: Price prediction 4/23: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, Link, Avax, sui
Are XRP heading for two -digit waterway?
SISTINE Research, a Crypto Investment Community, a XRP price pump, posted a bold prediction of XRP and predicted a long -term goal between $ 33 and $ 50. The prediction is based on a higher time frame (HTF) symmetrical triangle that reflects 2,600% rally in 2017. The platform suggested that optimistic goals can increase the price of $ 77- $ 100.
Depending on the situation, XRP is currently $ 2.23 and its market cap is $ 131 billion. The goal of $ 33 is to increase its market cap to ~ $ 2 trillion (1,400 %+), which is higher than Bitcoin’s current market cap.
In terms of Lower-Time Frame (LTF), the XRP shows a reverse head and shoulder pattern, which can potentially test the resistance between $ 2.50 to $ 2.67. The resistance range also coincides with the Fibonacci expansion level, which is attracted from the base of the neckline to the lowest point of the head.
The relative robbery index (RSI) is close to an over -area, but it suggests a potential suspension of price movement in the current range.
Related: Basic Spot of XRP in the Code Library ‘Encryption Backdoor’
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.