Why XRP Price is Down Today Despite Multiple XRP ETF Filings?
The crypto market continues to show mixed price action, highlighting the increase in uncertainty. In addition, top crypto tokens fell below their important support levels. Therefore, the chain order records similar price action, thereby increasing bearish sentiment.
Considering current market trends, investors and institutions are closely monitoring the price action of these crypto tokens, as Altcoin hints at potential XRP ETF approvals. Are you worried about its short-term forecast? Read now to find out the possibilities!
Ripple prices continue to struggle below $2.50!
The price of XRP tokens has fallen by 3.48% in the past 24 hours, with trading volume of $7.482 billion, a change of +1.83%. Additionally, it has fallen by 24.13% over the past seven days, highlighting the increase in sales pressure. The market value is US$1328.03 billion, and its market advantage is 4.2106%.
Simple moving averages (SMA) are constantly serving as support for XRP price charts. This suggests that altcoins take a strong bearish role in the cryptocurrency space.
Furthermore, the MACD indicator shows a rising red histogram, whose averages record similar price action over the daily time range. The point is that the fourth largest crypto token may continue to lose value in the coming time.
Will XRP price rise?
If the market favors the Bulls, the Ripple coin price may retest its immediate resistance level of $2.50. Maintaining a price above that level could lead the altcoin toward its upper resistance level of $3.00.
Conversely, if the bear surpasses the Bulls, the price of the XRP coin may drop to a low of $2.25. Additionally, if bearish sentiment intensifies, this could lead to a drop toward a key low of $2.
Are you one of the people who plan to invest more XRP tokens but are concerned about their long-term possibilities? Read the latest XRP Price Forecast today!
FAQ
Assessing current market conditions and circular supply, it is highly unlikely that the altcoin will receive $100.
According to the latest report, some institutions have expressed interest in launching the XRP Spot ETF. In addition, the Securities and Exchange Commission (SEC) is currently reviewing various applications.
If the market favors the Bulls, the Ripple coin could reach its highest trading value of $4 this year.
