Renowned Trader Challenges XRP's Usefulness: "What's the Appeal of XRP?" Analyst Responds
Debate on XRP's Utility: Scott Melker, a prominent crypto trader, questioned the current utility of XRP, highlighting that major payment networks are opting for alternatives like Solana and Linea, which sparked a strong reaction from the XRP community.
Response from XRP Analysts: XRP analyst Mickle defended the token, asserting that its value is foundational to the XRPL ecosystem and that it serves as a necessary asset for decentralized settlement, unlike stablecoins that depend on their respective chains.
Diverging Perspectives: The discussion reflects differing views in the crypto community, with traders focusing on market narratives and adoption, while analysts emphasize the technological significance and long-term role of XRP as a liquidity layer.
Future Catalysts for XRP: The ongoing debate highlights XRP's uncertain future, pending key developments such as ETF approvals and Ripple's institutional payment expansions, which could clarify its utility and value in the market.
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Technical Analysis for XRP
Technical Sentiment Analysis for XRP (XRP) As of , XRP (XRP) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
XRP (XRP) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.517 | 0.817 | 1.154 | 1.454 | 1.792 | 2.092 | 2.429 |
| Fibonacci | 0.817 | 1.061 | 1.211 | 1.454 | 1.698 | 1.848 | 2.092 |
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