#XRP/USDT🔥🔥
The success or failure of XRP hinges on this one moment; can it hold steady at $2.15?
XRP has recently attracted significant attention in the cryptocurrency market amidst its fluctuations. Despite the overall poor performance of the cryptocurrency market lately, XRP has shown a degree of resilience.
In the past five trading days, XRP has consistently held the critical support level of $2.15. In contrast, mainstream cryptocurrencies like Bitcoin, Ethereum, and Dogecoin have experienced noticeable price declines during this period.
According to on-chain data analytics firm Coinglass, the reason XRP has maintained this support level is primarily due to the continued optimism and support from investors and traders.
$407 million XRP outflow
From the XRP spot inflow/outflow data, it can be seen that over the past six days, there has been an outflow of up to $407 million in XRP from exchanges. Moreover, during this time, exchanges have not received any new inflows of funds or token deposits. This is often viewed as a bullish signal, as funds flowing from exchanges to wallets typically indicate that investors are accumulating assets. This large-scale outflow could signal a potential upward trend and buying opportunity.
Technical analysis and future trends
Technical experts point out that XRP is currently at the critical support level of $2.15, but the situation is somewhat delicate.
Based on recent price movements and historical trends, if XRP's daily closing price falls below $2.15, it may further decline by 15%, reaching the next support level of $1.95.
However, if XRP can hold this level, it is expected to experience a 25% increase, breaking through the $2.75 barrier.
Current price dynamics
Currently, XRP's trading price is close to $2.24, having dropped 1.05% in the past 24 hours. At the same time, trading volume has also decreased by 5%, indicating a decline in the activity of traders and investors amid increasing market uncertainty.
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