📈 Hey hey, hope all is well as always. Don't have too much time today so we'll be keeping this pretty quick and concise.
📈 Price Action: XRP is up 6-7% in the last 24 hours, trading around $1.43–$1.44, rebounding from a low of $1.32 after what's been a pretty bearish and volatile week which saw much of the market in a drawdown.
📈 Volume & Activity: 24-hour trading volume remains strong at over $3 billion, suggesting active buying. We can also see off our chart just how strong the buy pressure is right now, especially following yesterday's news of XRP being included in Arizona's Bill which is currently going through the process.
Technical Outlook
📈 Support & Resistance: Key resistance is eyed near $1.50–$1.51 (upper Bollinger Band), while immediate support rests around $1.34–$1.42.
📈 Technical Indicator: Daily RSI is neutral (around 44-69 depending on the chart), providing room for further upward movement if momentum holds and we can sustain support above that $1.45 pivot, resistance.
📈 Signals: While daily charts show a short-term rally, some indicators (like 200-day EMAs) suggest a lingering bearish, longer-term trend but as always I'm confident in XRP and the long run, we're just in this crypto winter waiting for the snow to melt.
Fundamentals & Sentiment
📈 Institutional Shift: Recent ETF inflows and decreased exchange balances suggest institutional accumulation is still ongoing with institutions and whale account continuing to purchase XRP amongst the recent decline.
📈 Network Growth: XRP Ledger (XRPL) transaction activity is high, with renewed interest in tokenization of real-world assets (RWA) helping drive activity further. Daily transactions have been climbing and approaching 2.5 million further proving the networks growth and real-world utility, function.
📈 Have to go but appreciate everyone as always, thanks for joining me a bit today. Main thing currently is to watch if we can sustain price above $1.45 else we risk a reversal so I would keep watch for that and those EMA's though with this impulse wave up for the day I'm expecting at least some healthy retracement so will be keeping an eye out. Thanks as always, wishing all the best till next, keep well and make everyday count.
Best regards,
~ Rock '
📈 Price Action: XRP is up 6-7% in the last 24 hours, trading around $1.43–$1.44, rebounding from a low of $1.32 after what's been a pretty bearish and volatile week which saw much of the market in a drawdown.
📈 Volume & Activity: 24-hour trading volume remains strong at over $3 billion, suggesting active buying. We can also see off our chart just how strong the buy pressure is right now, especially following yesterday's news of XRP being included in Arizona's Bill which is currently going through the process.
Technical Outlook
📈 Support & Resistance: Key resistance is eyed near $1.50–$1.51 (upper Bollinger Band), while immediate support rests around $1.34–$1.42.
📈 Technical Indicator: Daily RSI is neutral (around 44-69 depending on the chart), providing room for further upward movement if momentum holds and we can sustain support above that $1.45 pivot, resistance.
📈 Signals: While daily charts show a short-term rally, some indicators (like 200-day EMAs) suggest a lingering bearish, longer-term trend but as always I'm confident in XRP and the long run, we're just in this crypto winter waiting for the snow to melt.
Fundamentals & Sentiment
📈 Institutional Shift: Recent ETF inflows and decreased exchange balances suggest institutional accumulation is still ongoing with institutions and whale account continuing to purchase XRP amongst the recent decline.
📈 Network Growth: XRP Ledger (XRPL) transaction activity is high, with renewed interest in tokenization of real-world assets (RWA) helping drive activity further. Daily transactions have been climbing and approaching 2.5 million further proving the networks growth and real-world utility, function.
📈 Have to go but appreciate everyone as always, thanks for joining me a bit today. Main thing currently is to watch if we can sustain price above $1.45 else we risk a reversal so I would keep watch for that and those EMA's though with this impulse wave up for the day I'm expecting at least some healthy retracement so will be keeping an eye out. Thanks as always, wishing all the best till next, keep well and make everyday count.
Best regards,
~ Rock '
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.