The XRP, the fourth largest cryptocurrency by Market Cap, has seen the flatline price around the daily SMA 50 to $ 2.18 in recent days, leaving entrepreneurs wondering when real momentum can return.
SMA -50 SMAs' Sales Sales Significant for XRP prices as it served as critical support and resistance during this cycle.
The XRP lost its SMA 50's daily when it fell below it in February. Despite the many attempts to break the higher, the XRP does not produce enough pressure to decide to move the previous technical level of this technical level.
Attempts to return to the top of this level weakened in February and twice in March. Despite the short rallies above the SMA 50's day -to -day, the XRP struggles to maintain significant momentum, with price action that moves more on the sideways.
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To date, the SMA 50's at $ 2.18 serves as a snag for XRP prices, preventing it from landing. After a few days of combining since mid-April, the XRP has made a move alongside the remaining crypto markets, rising above the daily SMA 50. In a sharp move, the XRP recovered at a high $ 2.3 on April 23. As expected, the bulls face the fight at this level. Since then, the price of XRP has stopped near the sun's SMA 50.
XRP attempts to restore momentum again
Bulls are currently trying to revive the momentum, with a higher XRP transfer to the optimistic ETF news.
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According to recent reports, the SEC has approved a public date of launch April 30 for the XRP ETF of Proshares Trust. This weekend, Asset Manager Hashdex announced the launch of an XRP ETF, which marked another milestone for cryptocurrency in the Brazilian Stock Exchange.
At the time of writing, the XRP reached 1.61% in the last 24 hours up to $ 2.21, reached by intradays of $ 2.26.
For the XRP to maintain the current momentum, it will need a convincing violation of the SMA 50 -year -old, supported by high volume. Such a move can open the door to higher targets, including the level of $ 3, and restore bullish momentum.
However, if the XRP continues to stop and returns to the bottom of the day -to -day SMA 50, it can be returned to a incorporation -including the stage or decline at a lower level, such as $ 2, if the seller is redesigned.
