Looking at the $POL chart, some things stands out:
Support levels: The price is hanging out near a significant support level at around $0.39. This level has been tested before, and it seems to be holding up, which shows buyers are stepping in around here. If it breaks below, the next level of interest is around $0.35.
Volume: The recent price action shows some decent spikes in volume, especially near the key levels. That indicates people are actively trading here probably a mix of longs defending the level and shorts testing it.
Structure: While the price has been in a downtrend since the peak in December, it seems to be stabilizing in this area. If this support holds, we could see a reversal or at least a bounce.
Bullish case: If the price starts bouncing off this support with higher lows and increasing volume, that could signal a shift in momentum. Ideally, breaking above $0.45 would give a stronger bullish confirmation.
Bearish risk: If the support fails at $0.39, there’s not much stopping it from sliding to $0.35.
$XRP 🚀, created by Ripple Labs, is designed for efficient, cost-effective international transfers. It operates on the XRP Ledger, which uses a consensus protocol instead of mining. ❤️ 🧧With a total supply of 🧧100 billion tokens, around 57.6 billion are currently circulating. XRP's price has been volatile, influenced by legal challenges, particularly from the SEC, and its utility is seen in partnerships with financial institutions for cross-border payments, though regulatory environments continue to shape its adoption.
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