The XRP, the fourth largest cryptocurrency, is by market capitalization, is at a crucial moment, as it fights above the main technical resistance level, trying to direct the rally towards $ 3.
Over the past four days, the XRP is locked in an acute battle to achieve a decisive breakthrough that exceeds the daily simple moving average (SMA) at $ 50. Despite the recent bullish attempts, cryptocurrency has not been able to break this key barrier.
In today's experiment, the XRP reached $ 2.24, which may be optimistic that the breakthrough may be soon. But the momentum cooled down quickly as the sellers stepped in to protect their daily SMA 50 levels, driving the XRP again.
Currently, the XRP is trading near the 50-day SMA, with 0.12%up to $ 2.19 in the last 24 hours, indicating that bears protect this level furiously. As The price of XRP Consoliders are looking for traders with a significant break that exceeds the 50 -year -old of the daily SMA, which can successfully push the damaged XRP to $ 3.
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The downside is a break and closing less than $ 2.13, indicating that the bears persist. If the price falls below $ 2, the drop in the decline may accelerate, supporting the next $ 1.60.
XRP ETF starts in Brazil
The asset manager Hashdex has triggered the world's first XRP ETF, marking another crypto -verstapost on the Brazilian stock exchange.
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The XRP ETF, launched under the Ticker XRPH11, offers investors regulated access to XRP. This is the ninth crypto ETF in Hashdex in Brazil and its 33. Product worldwide.
Hashdex also publishes the HashDEX Nasdaq XRP Fund Dedies, managed by Brazilian financial services platform in Genian Investmento. Hashdex chose ETF caregiver SA.
Interest in XRP and XRP's ledger has steadily increased as the network institutional and retail sales grows. This week, the CME Group announced its intentions to launch the XRP futures in cash on May 19, as regulatory approval by expanding its crypto derivatives.
