XRP, currently volatile, is under threat from bears pushing prices lower. Technically, sellers hold the reins due to the lack of breakout above $0.55
XRP, currently volatile, is under threat from bears pushing prices lower. Technically, sellers hold the reins due to the lack of breakout above $0.55 this week. However, with the coin maintaining its position above the $0.46 and $0.50 zone, there is a glimmer of hope for a resurgence of buyers. For risk-on traders, it may be prudent to wait on the sidelines until a clear trend definition emerges, either in the form of a bullish trend continuation or a drop aligning with the losses of mid-April.
Highlighting the state of XRP and Ripple affairs, the coin is relatively stable. Interestingly, even with the drop and prices moving sideways, the average trading volume shot to over $2 billion in the last trading day. As bears are in control, today’s trend will shape the short- to medium trajectory. A spike above $0.55 will be a welcomed reprieve for upbeat bulls.
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| 🥇 |  |
Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker >> |
| 🥈 |  |
Read Review | FMA, FSA | USD 50 | Visit Broker >> |
| 🥉 |  |
Read Review | FSCA, CySEC, DFSA, FSA, CMA | USD 0 | Visit Broker >> |
| 4 |  |
Read Review | CySEC, MISA, FSCA | USD 5 | Visit Broker >> |
| 5 |  |
Read Review | FCA, CySEC, FSCA, SCB | USD 100 | Visit Broker >> |
| 6 |  |
Read Review | FCA, FINMA, FSA, ASIC | USD 0 | Visit Broker >> |
| 7 |  |
Read Review | CySEC, FCA, FSA, FSCA, Labuan FSA | USD 100 | Visit Broker >> |
| 8 |  |
Read Review | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA | USD 10 | Visit Broker >> |
| 9 |  |
Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker >> |
| 10 |  |
Read Review | IFSC, FSCA, ASIC, CySEC | USD 1 | Visit Broker >> |
The following XRP and Ripple news are worth watching:
- In what’s a major boost for XRP trading, Coinbase, one of the world’s largest exchanges, listed the coin for New York residents. The resumption comes after a 9-month break. Still, regulatory clarity, especially on its status, may see more states and countries like Japan permit trading.
- The decision by the House of Representatives to pass a bill barring the launch of CBDCs is when Ripple plans to launch a stablecoin. The USDC competitor will deploy on the XRP Ledger, tracking the USD.
XRP Price Analysis
XRP/USD is trending lower, sinking roughly 5% from this week’s highs.
Traders are nonetheless upbeat.
It is crucial to monitor $0.55 and $0.46 closely. These levels could dictate the future trajectory of price.
A breakout above $0.55 might trigger more demand, rewinding April 13 losses and sparking a lift-off to $0.60 or higher.
Conversely, losses below $0.46 will deflate confidence, possibly accelerating the sell-off to $0.40 in a bear trend continuation pattern.
www.fxleaders.com