XRP course lasts at $ 2.20-signs of outbreak to three dollars are increasing
- XRP remains stable at $ 2.26, as the institutional inflows reached $ 10.6 million in a week and raise the year to $ 335 million.
- The open interest at XRP futures has increased by 25% since June 23, which indicates that the trust of the dealers increases.
The Ripple XRP continues to act over $ 2.20, even if the wider cryptocurrency market comes under pressure at the beginning of the week. While Bitcoin briefly fell below $ 108,000 and Ethereum remained below $ 2,600, XRP was held within a narrow span and avoided deeper losses.
The price of XRP fell by less than 1 % in the last 24 hours and kept near $ 2.26, while the investors’ demand remained strong despite the general apathy of the market. A large part of the interest came from institutional investors who invested a record amount of USD 10.6 million in XRP-related investment products within a single week, which increased the inflows to USD 335 million so far and indicates that investors may position themselves for a price outbreak.
The Open Interest (OI) in XRP futures has again shown strength and has risen by around 25 % from USD 3.54 billion to $ 4.69 billion since June 23. The increase signals growing optimism among derivate retailers who expect the price of XRP to increase in the coming weeks.
XRP holds support at $ 2.22 in the middle of bullish signals
From a technical point of view, the short -term chart of XRP continues to be directed upwards. While the crypto prices are generally in consolidation, indicators such as the RSI and the MACD still show cheap signs of XRP. The bulls have to break through two nearby levels of resistance at $ 2.33 and $ 2.47 before moving towards the $ 3 brand.
As for the support, the coin is currently based on the 100-dayemaa, which is $ 2.22. This line has stabilized together with the 50 and 200-day emas at 2.21 and $ 2.11. If there is a decline, XRP could reach the level of support from June near the $ 1.90 mark.
The hourly chart of Coinmarketcap shows that XRP fell to $ 2.2175 this morning before it easily recovered. The trading volume rose sharply and climbed by 76.03 % to $ 4.77 billion within 24 hours. A volume tip of this size can sometimes precede a major price shift, which indicates that a more volatile movement could follow.
XRP bulls are fixed to $ 3
The market capitalization of XRP is around $ 133.6 billion, which makes it the fourth largest cryptocurrency according to the market value. The overall offer is almost 100 billion coins, while the circulating offer is 59.06 billion. These quantities ensure that XRP is observed closely by market participants who are looking for stability and potential upward potential.
Public opinion on coinmarketcap is still optimistic: 88 % of the more than one million respondents were positive. The activities on social media and the discussions in the forums show an increasing interest according to the latest network upgrades, including the introduction of the EVM-compatible sidechain on June 30th. This upgrade led to more than 1,400 smart contracts implemented in the first week.
The XRP bulls remain careful but optimistic and stick to their attitude as long as the price is around $ 2.20 marks. The persistent strength of the capital inflows supports the idea that a test of the $ 3 mark remains possible. This development becomes more likely if the nearby levels of resistance are overcome at short notice.
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