XRP bulls could use Ethereum ETFs to trigger a rally
Share link:In this post: XRP is on the rise, trading above key moving averages and holding strong at support levels. Ethereum ETFs could be the game-changer, triggering a massive rally for XRP with a boost in buying activity. Key resistance levels are at $0.6004 and $0.6169—breaking through could send it soaring to $1 and beyond.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongl
XRP bulls are keeping a close watch on the launch of five spot Ethereum ETFs in three days, hoping this could ignite a rally. One that could push it to the formidable $1 mark.
With XRP currently trading at $0.5906, down by 0.27% right now, this is just a continuation of a weak performance that has lasted over a year. Though XRP’s current price shows a minor bullish trend as it trades above the key moving averages.
The 50-period moving average sits at $0.5863, and the 200-period moving average is at $0.5851. The main support levels are at $0.5774, $0.5631, and $0.5609.
These levels are where buyers might step in, preventing XRP from consolidating hard. Again. Resistance levels are at $0.7004, $0.7847, and $0.8169 and the bulls must overcome them if we are to see a real bullish reversal.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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