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XRP Price Stuck: Will Momentum Return?
The price of XRP has been experiencing a stagnation in recent times, as it struggles to break above the psychological barrier of $2. However, with the approval of the SEC for the April 30 launch of ProShares’ ETF and other positive developments in the XRP ecosystem, there is hope that momentum may return.
Intraday, XRP’s price surged by 1.61% to reach an intraday high of $2.26 before settling at around $2.21 at the time of writing. This uptick in value has sparked optimism among investors and traders, who are now waiting for a decisive breach above the daily SMA 50.
In order to sustain its current momentum, XRP would need to convincingly break through this psychological barrier, accompanied by high trading volume. Such a move could potentially open the door to higher targets, including the $3 level, and restore bullish momentum.
However, if XRP continues to stall at its current levels or returns below the daily SMA 50, it may enter a consolidation phase or even decline to lower levels, such as $2, should sellers regain control.
The recent court victory by Richard Heart in his case against the SEC has also had a positive impact on XRP’s price. The decision could have significant implications for the future of cryptocurrencies, and investors are closely monitoring developments.
Meanwhile, other events like the approval of ProShares’ ETF and news about Huma Surpassing $4 Billion in transactions just two weeks after launching 2.0 on Solana, may also help to bolster XRP’s price.
In conclusion, while there are certainly many factors that could impact XRP’s price movement in the coming days, it is crucial for investors to stay informed and vigilant about market trends, as well as keep a close eye on any significant announcements or developments within the XRP ecosystem.
Source: https://u.today/xrp-price-stuck-will-momentum-return
