The XRP (XRP) Price increased to less than 16% after the news that the legal dispute with Ripple’s US Securities and Exchange Commission (SEC) could end the headline on March 19. However, XRP has lost half of its profits over the last two days and has lost its position of an important level of $ 2.50.
The XRP rally continues to run spots
XRP matched up to $ 3.40 on January 16.
Similar prospects are rewritten in the XRP market today. According to Velo’s data, the aggregated spot tape CVD has been positive for the first time since the end of January.
XRP price and aggregate spot tape data. Source: velo.chart
The aggregated spot tape cumulative transaction delta indicators track the sequential of aggressive purchases and sales transactions on several exchanges. If the indicator changes to green and rises more than 0, the more the market purchase transactions, the more the purchase pressure increases. This rising trend causes prices to rise, reflecting continuous aggression.
XRP price, public interest and aggregated premium data. Source: velo.chart
The negative total premium for the public interest suggests that the futures market continues to bid for the increase in XRP prices. This means that the current situation is pleasant between optimistic spots and weakness.
Related: Why is the encryption market apart today?
XRP can tag $ 2 for the first time before chasing the new best
The anonymous password trader, Credibull Crypto, has a record high of more than $ 3.40 in the next few weeks, but encryption assets will resume an immediate at $ 2 immediate low before the start.
Trader uses three technology settings to say that XRP is in the current range of accumulation. Accordingly, the operation period is followed. The price here will potentially fall in liquidity of $ 1.80 to $ 2.
Market analyst DOM (DOM) said that XRP’s All-Agem Hight Volume weighted average price (VWAP) is still an optimistic threshold for XRP and Altcoin should “stabilize” around $ 2.50.
XRP analysis of DOM. Source: x.com
Immediate direction bias is difficult to predict, but XRP’s long -term market structure remains “constructive” and one of the extremes must violate the range of $ 3 and $ 2 for the next few days.
From a technical point of view, XRP can avoid $ 2’s rapid figures by setting the price of more than $ 2.65. This creates a positive structure (BOS) for tokens. This can allow futures traders to adopt a strong prospect with the spot traders.
XRP 4 hours chart. Source: COINTELEGRAPH/TradingView
On the contrary, less than $ 2.23 invalidates XRP’s recent price measures and restores the overall weakness. For the next few days, it is necessary to maintain a position above the slope support (black trend line).
Despite the optimistic spot activity, the XRP price is maintained without a decisive trend. The market drifting next to it, and bulls and bears are trapped in tug -of -war for control.
Related: The XRP price chart gains 75% of the following as the SEC terminates a lawsuit for Ripple.
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.