XRP Price Rises to Three-Week High of $1.42
- Price Surge: XRP's price increased by 6% on Thursday, reaching a three-week high of $1.42, with its market cap rising back above $87 billion, reclaiming its position as the fourth-largest crypto asset, despite being 23% lower than the start of the year.
- Regulatory Progress: The U.S. Senate Banking Committee is set to mark up the CLARITY Act this month, which, if passed, would formally classify XRP as a digital commodity, removing regulatory ambiguity and potentially attracting more institutional investment, thereby boosting market confidence.
- Institutional Demand Rebound: Data shows that spot XRP ETFs have recorded inflows for four consecutive days, totaling $38.86 million, bringing the assets under management for U.S. spot XRP ETFs to over $1.25 billion, indicating a rising interest from institutional investors in the token.
- Increased Network Utility: Ripple's partnership with Kyobo Life, one of South Korea's largest insurers, to pilot tokenized government bond settlements enhances the utility of the XRP Ledger, which is expected to significantly boost the long-term value proposition of the ecosystem.
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Technical Analysis for XRP
Technical Sentiment Analysis for XRP (XRP). As of , XRP (XRP) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 2 indicators are flashing buy, while 6 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 | 1.17 | 1.232 | 1.299 | 1.361 | 1.427 | 1.489 | 1.556 |
| Fibonacci | 1.232 | 1.282 | 1.312 | 1.361 | 1.41 | 1.44 | 1.489 |
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