Main notes
- The price of XRP fell from the main support level at $ 1.7.
- The intimidation of the main tariff affects the digital currency alongside the broader market.
- The ecological system remains vibrant as the launch of Coinbase XRP futures may rebuild feelings.
Xrp
Xrp
$ 1.77
24 hours fluctuation:
15.6 %
The maximum market:
$ 103.18 b
Folder. 24h:
$ 10.81 b
Price is in the spotlight where the ecosystem for encryption faces an extended sale due to President Donald Trump’s policies.
The price of XRP decreased to less than the main support level at $ 2 with bulls surrender. As uncertainty in the market grows, many traders fear what could become a black historical event on Monday.
XRP reduces the main support level
During the past week, the XRP price fell to the lowest new multi -level level of 1.640 dollars, penetrating the support zone of $ 1.7.
The collapse shows the loss of power in the elasticity of the origins market, which constitutes a major support (Lok).
Data from Coinglass Reveal There is a significant rise in the qualifiers, with more than 67.7 million dollars in the eliminated XRP XRP sites. From this, it was $ 58.11 million, which increases the pressure of the sale side and the price of XRP.
At the same time, the open interest of XRP decreased to less than 3 billion dollars, and negative financing rates have turned. This indicates the presence of the morale of the descending market, as the open sellers are betting on more prices that exceed the long buyers.
In addition, the data on the series also showed a decrease in the active wallet addresses, indicating a decrease in the user activity. The decrease in participation can weaken recovery attempts, especially during periods of selling a strong market.
The current declining price is in line with the position shared by the legendary trader Peter Brandt. He revealed that the XRP drop to one dollar was brewing if the support in this critical support area was lost.
Source: TradingView
With the presence of the relative strength index in 30.79 and MA CROS, the dead cross may be the price of XRP due to the bounce.
Trump tariff notes that honor the market tension
Over the past few weeks, the two -time XRP price has long experienced the two -dollar support zone, which is a level resulting from multiple weekly concerns about the Donald Trump War Irrivary War. While the currency has organized flexibility, pressure in the broader market may overcome the bulls, which led to the promotion of negative correction.
While cryptocurrencies are moving independently, the broader economic concerns often leak into digital markets. Trump’s position on definitions has been seen as a sign of more upcoming economic turmoil, which is never good news of risk origins like XRP.
Meanwhile, Talk Black Monday follows a significant decrease in the encryption market, as the total maximum market decreased by 9 % to $ 2.4 trillion. At the same time, the US Securities Market is on the right path for one of its worst days, as the future of the S&P 500 decreased by 2.88 %.
However, Coinspeaker recently reported that Coinbase has provided its submission for XRP contracts with the American Commodity Futures Trading Committee (CFTC). Crypto Exchange expects that the futures product will run live on its platform by April 21.
Many experts speculate now if this approval can significantly change the direction of the XRP price. The coming days will be very important for the second largest encrypted currency in the world.
the next
Slip: Coinspeaker is committed to providing unbiased and transparent reports. This article aims to provide accurate and timely information, but it should not be considered financial or investment advice. Since market conditions can change quickly, we encourage you to check your information and consult with a professional before making any decisions based on this content.
Benjamin Jodfrey is a blockchain lover and journalist who enjoys writing about the real life applications of Blockchain technology and innovations to pay public acceptance and complementarity all over the world for emerging technology. His desire to educate people about encrypted currencies inspire his contributions to the media and famous sites in Blockchain.
The post XRP Price News: XRP Eyes Major Selloff as Black Monday Concerns Grow first appeared on Investorempires.com.
