The XRP market experienced a large meeting in the last day after the recognition of the SEC of the XRP ETF filling of Grayscale. According to data from Coinmarketcap, the prominent altcoin rose by 11% with a local peak of $ 2.81 before a considerable retracement was experienced to $ 2.39. With XRP in the elevator again, investors must note that actively must scale certain price barriers to validate its current bullish momentum.
XRP has to go beyond $ 3.40 to keep market interest rate
The popular market analyst Egrag Crypto has shared an intriguing analysis of the XRP market. In one X On February 14, the crypto expert states that the third largest cryptocurrency should reach a strong close to $ 2.75 (marked in green) to retain its current upward trend.
On the basis of historical data, $ 2.75 presented a significant resistance level. If XRP can close above this price zone and holds on its 4-hour trade chart, this would indicate that buyers are in control of the market after a month of major price loss.
After that, the Altcoin must reach a different price that would suggest above $ 2.94 (marked in Geel), which would suggest a higher bullish momentum with a considerable potential for new highlights such as $ 3.22. For the XRP market, each strengthens the current Bullish Momentum close to this specified price levels.
However, Egrag Crypto warns that all price movements under the current $ 3.40 bull rally physician only remain “noise” in the long term. The analyst warns that XRP should break beyond this psychological price level to confirm a certain trend shift in the upward direction.
XRP -Market overview
At the time of the press, XRP acts at $ 2.73 after a total profit of 6.43% in the last 24 hours. The trading volume of the Activum has risen by 66.61%, indicating a high level of interest of market participants. XRP has 13.78% on its 7-day graph, which reduces the monthly loss to around 8.39%.
In the midst of his recent price racement, community sensals on the XRP market remain very bullish, especially with the progress of a potential XRP ETF. By recognizing the ETF application of Grayscale, the SEC is allowed an initial assessment period of 45 days – possibly extended to 240 days – to approve or reject the proposed ETF.
With the implementation of Donald Trump’s pro-Crypto agenda, investors are very positive about approval that suggests a possible influx of institutional capital, seen with the Bitcoin Spot ETFs.
