🤯 $XRP gears up for $0.70: Traders, watch out for THESE hurdles! - AMB Crypto
📈 Ripple’s Rally Potential
Ripple (XRP) was trading above mid-range resistance, presenting a chance to rally towards $0.70. However, spot market demand remains weak, and resistance around $0.63 has been tough to break since mid-July.
🔍 On-Chain Metrics
On-chain data shows low development activity and decreased trend, which is not encouraging for long-term investors. While daily active addresses peaked in mid-July, they've since quieted down. Despite stable network growth and increased mean coin age, fewer token movements might limit selling pressure.
📉 Liquidity and Price Targets
AMBCrypto's liquidation heatmap shows a bearish bias, with key levels around $0.58-$0.59. A sweep of these levels could lead to a bullish rebound towards $0.70.
📜 Legal News
Stuart Alderoty, Ripple’s Chief Legal Officer, highlighted that the Kraken case confirmed there are no crypto asset securities, challenging the SEC’s regulation-by-enforcement stance.
