Altcoins News
By MikeT
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XRP has recently captured traders’ attention by showing several bullish signals on technical indicators.
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Over the past day, XRP registered a modest price increase of 0.37%, pushing its value to around $2.37. Although this gain may seem minor, it holds technical significance.
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Adding to the optimism, XRP has flashed multiple buy signals on the hourly TD Sequential indicator.
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Further supporting the case for a rebound is data from liquidation heatmaps, which show a dense concentration of short positions between the $2.40 and $2.45 price levels.
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However, derivatives data offers a more nuanced perspective. Despite the positive price action and sentiment, the Open Interest (OI)-Weighted Funding Rate remains nearly flat at 0.
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On the exchange front, net inflows of capital were slightly positive on May 18, with around $42.7 million entering exchanges and $37.7 million exiting.
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Unfortunately for XRP bulls, on-chain data points to waning user engagement. Daily active addresses on the network have declined to around 8,700, and the total transaction count…
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Looking ahead, XRP finds itself at a critical juncture. Maintaining support above $2.30 remains essential for preserving the bullish technical structure. A push above the $2.
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In summary, XRP is currently flashing early buy signals supported by technical patterns and moderate bullish sentiment.
The Currency Analytics
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