XRP Market Observation: Buy or sell now? Here are the key insights!
XRP prices have soared recently, reaching a peak earlier than BTC, and this momentum has made friends who have been hoarding for a long time feel a little nervous. From July 8 to 17, XRP rose by nearly 60%. I heard that this is because everyone is saying that the case of the US Securities and Exchange Commission (SEC) will be ruled in favor of Ripple.
By July 13, the official said that XRP trading in the secondary market is not considered a security. A lawyer said that the case is expected to have a result by the end of the month. Let's see what AMBCrypto says about the price and trend of XRP.
Has the market already digested the good news in advance? Or can this rebound fly for a while? The decline in the past 11 months is now considered to have recovered some of the lost ground. At present, the position of $0.585 is being tested to see if it can hold up. If XRP closes below the low of $0.562 in early April, it is estimated that it will slide to $0.46.
But on the other hand, if XRP can stand firmly at $0.57 to $0.58 in the next few days, the next step may be to $0.71.
Looking at the trading volume, it has been rising steadily in the past ten days, and OBV has also been rising rapidly, indicating that there are really many people buying.
Although the RSI (Relative Strength Index) has now retreated from the overbought area, this is also a normal adjustment. After all, it has fallen for three months before, and the current rise is still very strong.
Speaking of XRP market observation, there is one thing to pay attention to, that is, the liquidity pool is quite strong around $0.7, which matches the high point of $0.71. There is also a more attractive point of $0.751.
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Now $0.585 is a support point, but if it breaks, it may become a resistance. However, for traders who follow the trend, XRP still has a chance now.
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