Ripple's XRP is positioned for potential price movement as new spot ETFs reduce exchange supply and significant whale activity is observed. Over 170 million XRP have been moved off exchanges, signaling possible strategic positioning by large holders. Additionally, Abu Dhabi's approval of RLUSD for institutional use is contributing to market momentum.
Currently, XRP is trading within a narrow range of 2.11 to 2.25, with critical support at 2.11 and resistance between 2.23 and 2.25. Technical indicators suggest a possible breakout above 2.30 or a decline towards 1.95 if support levels fail. The Relative Strength Index (RSI) remains neutral, open interest is stable, and the Moving Average Convergence Divergence (MACD) indicates a potential reversal.
Ripple's XRP Poised for Movement Amid ETF Impact and Whale Activity
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
