After weeks of fluctuations and downward pressure, Ripple (XRP) seems to be on an upward trend again, showing signs of breaking the psychological level of $2. Ripple’s current price hovers around $1.98, sparking hopes of a return to the bullish trend. Recently, XRP managed to surpass one of its key technical barriers, the 200-day moving average, which previously acted as a significant resistance level and can now serve as support. On the other hand, professional investors, known as smart money, have recorded the highest capital inflow in the past two weeks on April 9th. These investors entered the market at price bottoms to profit from recent price movements. Notably, they bought at a historical low of $1.6 on April 7th and patiently waited for market stability. From a technical perspective, if Ripple can break through the key resistance of $2.20 to $2.25, there is a possibility of a strong uptrend towards the $2.30 range and even higher. Moreover, Ripple’s inventory in exchanges has reached its lowest monthly level (2.7 billion XRP), indicating a decrease in selling pressure. However, the decrease in trading volume may signal a decline in traders’ interest. The overall cryptocurrency market is still influenced by external factors such as global trade tensions, economic policy fluctuations in the United States, and legal uncertainties in the digital currency space. But if Ripple’s recent trend is maintained, this digital asset can once again establish itself as one of the market’s top performers. Visit the digital currencies’ real-time price page to see live updates on token and cryptocurrency prices.
