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XRP Price Action Gives Confidence After Massive Sale In Macro Report
A week of macro statistics and key economic decisions is drawing to a close. While some have yet to be announced, the major event ended yesterday with the Fed’s interest rate decision and further comments from top regulator Jerome Powell. Selling, which traditionally accompanies events in financial markets, especially crypto markets, has not gone away. Although no major crypto assets escaped the outflow, XRPshowed encouraging price action.
Thus, XRP was able to maintain its critical support level of $0.38 per token despite ending the trading day with a loss. This level is important both psychologically and technically.If XRP If this level continues, the token price could rise to $0.47.
At the same time, at its current price, XRP already ranks 6th in CoinMarketCap’s ranking of the largest cryptocurrencies by market capitalization.
further direction of XRP Estimates, as always, depend on fundamental and technical factors.
If we are talking about fundamentals, it is certainly about crypto’s positive developments in the SEC vs. Ripple litigation and the favorable environment of the market itself.
In terms of the technical big picture, in addition to needing to consolidate above the $0.38 line, XRP will need to reduce Bitcoin’s (BTC) dominance. There is volatility in the market and investors’ money should flow out of BTC.
