- XRP has shown some optimistic potential, but has recently fallen.
- You can re -visit a low range or right down to provide a good purchase opportunity for a swing trader.
In a recent report, XRP has registered a neutral MVRV score, but emphasized that the NVT metric has increased. These conflicting signals showed that Altcoin was aligned with past accumulation phases, but network utility has not expanded as fast as price.
XRP can soon go beyond the short -term range
Source: TradingView’s XRP/USDT
After XRP escaped from the downturn trend line resistance (white), the token rose steadily. Since mid -April, we have set consistent highest high and high lowest levels. In addition, OBV also rose.
Therefore, the slow recovery of XRP was supported by steady demand. The moving average showed that the amount of exercise was optimistic and dynamic support.
MACD agreed to find an optimistic momentum, but was just before making a weak crossover over the zero line. This will inform you of the slowing of upward momentum.
The Fibonacci Retression level of $ 2.47 and $ 2.7 was the following main resistance level. They emphasized that over the past month, XRP’s obvious recovery could be the full back of the next leg.
Source: TradingView’s XRP/USDT
The four -hour chart showed the range of $ 2.3 to $ 2.44. Over the last few days, Range High rejected the bull and the intermediate range of $ 2.37 was used for solid support. XRP can vibrate between these levels next week.
However, it should be noted that the optimistic exercise of Bitcoin (BTC) can deprive more of XRP. Over the last few hours, BTC has surpassed $ 104.8K short -term resistance. On the other hand, the low trading volume suggests that traders can wait for a large amount of movement to make a decision.
Source: COINGLASS
For two weeks, the liquidation heat map emphasized the area below the lowest level of the next level of $ 2.26 for the next self -area. However, it is still unclear whether XRP will be promoted lower. This is because $ 2.37 is short -term short -term support.
Upward BTC exercise can increase XRP. In this case, the short liquidation of about $ 2.46 can be used for XRP profit. Traders should be prepared for both scenarios, more moving north to the prestation time.
Indemnity Clause: The information presented does not make up financial, investment, transactions, or other types of advice, and is entirely the artist’s opinion.