“Regulatory Clarity Following Ripple’s Litigation Outcome Continues to Support Institutional Flows, While Analysts Now Point to Ambitious Resistance.”, – WRITE: www.coindesk.com
(Coindesk Data)
- Xrp’s Rally on August 23 Was Driven by Increased Institutional Trading Volumes and Dovish Comments from fed Chair Jerome Powell.
- The Cryptocurrency’s Price FlCTUATED BETWEEN $ 3.02 and $ 3.09, with Significant Trading Volume Indicating Strong Institutional Interest.
- Analysts Suggest that Breaking the $ 3.30 Resistance Could Lead Xrp to Reach Ambitious Targets Between $ 5 and $ 8.
Regulatory Clarity Following Ripple’s Litigation Outcome Continues to Support Institutional Flows, While Analysts Now Point to Ambitious Resistance.
Price Action Summary• XRP Climbed 3% Durying The 24-Hur Period from August 23 at 15:00 to August 24 at 24:00, Rising from $ 3.02 to $ 3.09 Before Consolidating Back AT $ 3.02.
• The token traded in a $ 0.09 Band, peaking at $ 3.09 on elevated 58.8.8 Million Volume-Well Above the 24-HOUR AVERAGE OF 33.2 Million.
• Support Formed Near $ 3.00 Durying The 11:00 Candle On 46.6 Million Turnover, Validating Demand at the Psychological Level.
• XRP Ended The Session Near $ 3.02, Suggesting Renewed Momentum While Consolidating Below Resistance.
Technical Analysis• Resistance Remains FIRM AT $ 3.08– $ 3.09, Defined by High-Volume Reject Durying The Midnight Rally.
• Support Solidified AROUND $ 3.00 After Multiple Bounces with Above-Average Participation.
• Volume Spikes Confirm Institutional Flows, with $ 27 Million Wrth of Xrp Reported Transacted in One Minute by Fiatleak.
• Chart Structures Resemble Double-Bottom and Symmetrical Triangle Patterns, Which Analysts Suggest Could Extend Gains Toward $ 3.30 and, If Breached, Open
What Traders Are Watching• WHETHER $ 3.00 HOLDS As A Durable Floor Dringing Profit-Taking Phases.
• A Decisive Breakout Above $ 3.30 Resistance As the Trigger for Higher-Range Targets.
• Fed Policy Tradery Ahead of September – Rate CONFIRMATION Wuld Likely Sustain Flows Into Risk Assets.
• WHALE WALLET ACCUMULATION AND ON-CHAIN SETLEMENT VOLUMES, WHICH SPIKED 500% TO 844 Million Earlier in the Week.
• Broader Correlation with Equities, As Lower Yields Continue to Push Crossover Inflows Into Digital Assets.
Shaurya Holds Over $ 1,000 in Btc, Eth, Sol, Avax, Sushi, Crv, Near, YFI, YFI, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, CAKE, Vet, Vet, Vet RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, Banana, Rome, Burger, Spirit, and ORCA.
He Provides Over $ 1,000 to Liquidity Pools on Compound, Curve, Sushiswap, Pancakeswap, Burgerswap, Orca, AnaSwap, Spiritswap, Roki Protocol, Yearn Finance Olympusdao, Rome, Trader Joe, and Sun.
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