Altcoins News
By Steven Anderson
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XRP rockets higher Tuesday. The digital asset smashed through the $1.50 barrier and now trades near $1.
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Trading data from Kraken shows XRP climbing steadily above both the $1.50 mark and its 100-hourly Simple Moving Average, a technical level that often signals strength when prices…
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The price briefly dipped below the 23.6% Fibonacci retracement level - that's the line from the $1.3855 low to the $1.6068 high - but buyers stepped in fast.
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Traders are watching $1.5650 as the first real test. Break that and $1.580 comes into play fast.
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A push above $1.580 opens the door to another test of $1.60, and clearing that psychological level could send XRP toward $1.6250 pretty quick. Some desk traders think $1.
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The downside risk is real too. If XRP can't break $1.580, things could get messy fast with initial support at $1.520 where that trend line sits. Drop below there and $1.
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Technical indicators show mixed signals right now.
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The hourly MACD for XRP/USD is losing some of its bullish momentum, which isn't great news for the bulls.
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Market participants can't ignore the broader crypto environment that's helping XRP right now.
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Trading volumes on Binance and Coinbase have jumped, reflecting the heightened interest in XRP that's been building over the past few sessions.
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Ripple's ongoing legal battle with the SEC continues to loom over everything. The case that started in December 2020 is still grinding through the courts, and any news from that…
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Glassnode data shows XRP on-chain activity hitting multi-month highs, with transaction volumes surging as both retail and institutional investors pile in.
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Whale activity has ramped up significantly according to Whale Alert, which tracked several transactions exceeding 10 million XRP tokens moving between unknown wallets in the past…
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The options market is pricing in elevated volatility through the end of March, with Deribit seeing unusual activity in XRP call options struck at $1.75 and $2.00.
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