Currently, XRP is trading at $2,405 on Binance, according to live data. Despite the market downturn, XRP is showing positive signs of recovery in the near term, supported by a surge in trading volume that surpassed $23.5 billion in the last 24 hours, outperforming Bitcoin and Ethereum for the first time.
Technical analysis:
Strong support:
At the $2.23 level, this level represents an important barrier that must be maintained to avoid further declines.
Main resistance:
At $3.00. Breaking this level could target historical highs at $3.55.
Technical indicators:
Analytics show “strong buy” signals based on indicators such as RSI, MACD, and Williams %R, reflecting bullish momentum in the current move.
Factors affecting and latest news of #Xrp🔥🔥 coin:
1. Launch of Stablecoin RLUSD:
Ripple introduced a stablecoin to boost liquidity, which sparked institutional interest and increased market confidence.
2. Possibility of launching an ETF:
WisdomTree has filed to launch an XRP-pegged exchange-traded fund, which could attract massive investments if approved.
3. Regulatory developments:
Speculation is rife that the legal case between Ripple and the SEC has been resolved, which could strengthen XRP’s position as a legal asset.
Expectations:
The market is showing signs of recovery, but #Xrp🔥🔥 is dependent on breaking the above mentioned resistance levels. It is important to follow the news related to regulatory developments and liquidity volume, as these factors could be the drivers for a full recovery.
