XRP faced a turbulent week, as it struggles to keep its early momentum. After showing signs of recovery on Monday, the cryptocurrency lost strength, which continued to stagnate. Market analysts attribute the decrease in weak technical indicators, a decrease in trading volume, and a large spot sale.
With a short -term drop, traders closely monitor support levels to measure potential movements. However, long-term optimism remains intact, supported by major stimuli such as the expected XRP ETF and the continuous Riple -sec case.
The latest Cilinix Crypto analyzes highlights XRP struggles despite the initial recovery earlier in the week. The price managed to restore 2.5 dollars and $ 2.7 on the graph for 4 hours, but it failed to maintain its upward movement. Currently, XRP is trading between $ 2.5 and $ 2.0, indicating the market weakness.
The analyst pointed out that the leverage is gradually removed in the market, which contributes to increasing the declining pressure.
In addition, the trading volume decreased with the continued sales activity, indicating the positions of a large spot that is filtered instead of just taking advantage of trading. The lack of a domain momentum indicates XRP You may face more declines Before finding a stable land.
XRP ETF Horizons and Riple-SEC as a potential incentive
XRP prospects in the long run depend on the main events, which are the highly expected ETF and the Ripple Legal Background with the SEC. Cilinix Crypto emphasized that these factors can be pivotal in leading renewed upscale feelings.
The analyst was called on July 13, when an increase in positive news caused a weak price within hours. Although there are no visible immediate emerging operators, market monitors still hope that organizational and institutional clarity will be Adoption via ETF It can feed the strong recovery in 2025. Currently, merchants are preparing for more negative aspect before a possible outbreak.
XRP technical indicators indicate a short -term path. The price is expected to decrease further, and the support range may be tested from 2.0 to $ 2.15. The analyst believes that this level is very important, because it can provide a strong base for apostasy in the future.
Despite the short -term conflicts, long -term feelings are still positive. Cilinix Crypto stated that once the basic uncertainty can be seen, XRP can see a great outbreak. However, merchants remain careful, closely monitoring stability marks before making bullish obligations.
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The effect of the total economy and the effect of bitcoin
The wider market conditions will also affect the performance of XRP. The upcoming economic data reports, such as the unemployment rate in the United States, and the non -cultivated salary lists, may create fluctuations in the encryption market that affects XRP.
Bitcoin work The main effect on XRP remains. According to the analyst, Bitcoin needs to keep a set of 91000 to 93,000 dollars for XRP to maintain stability at 2.0 – 2.2 dollars. If bitcoin stumbles, XRP may see deeper drops. The speaker mentioned the consideration of a purchase of about $ 2.0 but slightly higher to avoid risks in the forward.
Update XRP price
According to Coingecko at the time of this report, XRP trades at about $ 2.41. This indicates a 1.17 % decrease in the last day and a 21.61 % reduction during the past week. This projection promotes the perception of the pessimist analyst soon.
The future XRP future is unclear, as technical signals indicate additional declines. Although there is continuous optimism in the long run, merchants are still cautious about the short -term risks.
ETF and Ripple-CC advertisement may be important engines for upcoming profits, however, XRP is in a weak position. Market participants will continue to monitor support levels and Bitcoin performance to measure the following potential moves.
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