All-Time Highs In Sight With $3 Support Secured – Crypto News – Crypto News
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All-Time Highs In Sight With $3 Support Secured All-Time Highs In Sight With $3 Support Secured

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All-Time Highs In Sight With $3 Support Secured – Crypto News

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XRP price extended its upside on Thursday, rising to five-month highs of $3.17. The coin was up by 3.95% at the time of writing bringing its weekly gains to 31%. At its current price, XRP is below its all-time highs by 7.3%. Its latest gains are propelled by rising speculation of an imminent XRP futures ETF approval, which could open it up for strong institutional capital inflows. Securities and Exchange Commission (SEC) commissioner Hester Peirce revealed in a recent interview that the spot ETF applications have not been denied, but only being taken through a standard review.

Meanwhile, XRP ledger hit a new record of 7.19 million addresses, signifying rising adoption. Also, notional open interest perpetuals rose to a record-breaking $9.23 billion after rising by 13.34% on the daily chart. This underscores growing investor confidence in the coin, which will likely create a supportive sentiment to propel the upside.

Meanwhile, XRP issuer, Ripple has entered into a partnership with Ctrl Alt to enable tokenization of real estate property in Dubai. All tokens will be be issued on XRP ledger, which could increase utility for XRP coin. The coin was also the most traded digital asset in South Korea in the last 24 hours, with over $500 million in trading volume on the country’s largest exchange, Upbit.

Overall, XRP trading volume rose by 53% in the last 24 hours alongside the price uptrend. That signifies a strong appetite by the buyers, which will provide support for the upside. On the technical front, the daily RSI is at 84, which is deep within overbought territory. However, that also carries a strong bullish momentum that supports further gains.

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XRP Price Prediction

XRP price pivot mark is at $3.10 and the momentum calls for further upside. The coin will likely meet initial resistance at $3.18. An extended control by the buyers will break above that level and potentially push the action higher to test $3.25.

Conversely, going below $3.10 will invite the sellers to take control. That will likely see primary support established at $3.02. Breaking below that level will invalidate the upside narrative, with the resulting momentum potentially pushing XRPUSD lower to test $2.95.

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