In the last 24 hours, the XRP has created a significant support at $ 2.30. Investors, while actively selling and selling the presence, the decline volatility decreases. However, low trading volume and resistance levels may threaten the rise of XRP. So, can this support be protected?
XRP is trying to protect $ 2,30
The XRP rose to $ 2,3308 during the day and gave the recovery signals. According to CoinMarketcap data, price fluctuations did not go below this level. This shows that $ 2,30 is a critical support point.
However, analysts say that it would not be easy to protect this level. The transaction volume of XRP decreased by 13.67 %in the last 24 hours to 3.09 billion dollars. The falling volume means a decrease in purchasing power, which can lead to the price to become fragile. If investors lose confidence, the rise may slow down.
Resistance level 2.40 dollars: can it break?
One of the most critical points for XRP is $ 2,40. If the price exceeds this barrier, a new rally may start. Some analysts think that a successful break may re -test the $ 2.90 level.
However, the weak volume may make it difficult for XRP to break this resistance. According to CoNSS data, the Open Interest of XRP increased by 2.61 %in the last 24 hours. However, this rate decreased by 0.2 %in the last hour. This may make it difficult for the price to remain stable in the short term.
Can corporate investors support XRP?
The interest of corporate investors for the long -term rise of XRP may play a critical role. In recent weeks, big investors’ interest in XRP has increased. If this trend persists, possible decreases due to low volume can be compensated. If the XRP manages to stay above $ 2,30 in the coming days, the upward movement can gain speed. However, investors should not forget that a sustainable rise will be difficult without volume increase. If the XRP loses $ 2,30 support, the price seems to be likely to decline $ 2.20 or below. In addition, the movements of whales should be followed carefully because large sales can quickly the price down. However, if there is a new institutional entry into the market, it may be possible for XRP to forcing $ 2.40 again. The most critical moments for XRP will emerge by testing new resistance levels!
