Upbit Experiences $20.95 Billion Increase in Trading Volume Within 24 Hours
Trading Volume Surge: Upbit, a major South Korean cryptocurrency exchange, reported a 24-hour trading volume of $20.95 billion, primarily driven by the ETH/KRW trading pair, which accounted for 17.12% of the total volume.
Market Dynamics and Speculation: The increase in trading volume reflects heightened retail interest in the South Korean crypto market, with speculation suggesting potential shifts in market dynamics and investor focus on alternative currency pairs, despite a lack of comments from Upbit executives.
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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 6 technical signals, shows that 2 indicators are flashing buy, while 4 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 crypto.
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 | 0.968 | 1.155 | 1.297 | 1.484 | 1.627 | 1.814 | 1.956 |
| Fibonacci | 1.155 | 1.281 | 1.359 | 1.484 | 1.61 | 1.688 | 1.814 |
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