The price of $XRP , intertwined with geopolitical and technical analysis, raises suspense of skyrocketing and plummeting!
Ripple's XRP had a surge recently, but now it seems to be catching its breath.
On November 27, 2024, XRP, like the entire cryptocurrency market, has seen a slight decline in price. Some say this is just a self-correction of prices, while others believe it is due to the geopolitical tensions between Ukraine and Russia.
However, if you look at other cryptocurrencies, they have all dropped quite significantly, but XRP remains relatively stable, still holding at the key position of $1.35.
Why is it so stable? It's partly due to some recent political developments, and there are rumors that SEC's Gary Gensler might resign, plus the ongoing ETF discussions have everyone guessing.
Looking at the technical analysis, XRP seems to have formed a descending triangle on the four-hour chart, but it still holds strong at $1.30. However, if you switch to the daily chart, the coin is just fluctuating slightly, resembling the previous consolidation phase, which led to a 50% increase in altcoins afterwards.
So how will XRP's price move in the future? If it breaks through the descending trend line of the triangle, it could rise by 42% in the coming days. But if it cannot hold the $1.30 position and continues to drop, it might fall by 25%.
Nevertheless, XRP is still above the 200 EMA on the daily chart, indicating an upward trend. Additionally, its RSI shows there is still room for growth in the coming days, as the current value is 50.25, and it hasn't reached 70 yet.
Speaking of the current price, XRP is about $1.36, down 4% in the past 24 hours. Meanwhile, trading volume has decreased by 18%, reflecting a sense of hesitation in the market, with fewer people trading and investing.
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