A recap of XRP as the pears put on a decent fight amid the intensifying profit-taking that occurred so far this month
Can XRP’s on-chain demand and sell pressure stats offer insights into its price movements? A look at its next potential major support.native coin XRP was enjoying robust bullish momentum. It even achieved a new 8-month high in the first week of December, building on the momentum it achieved in November.
This pullback means we now have a rough idea of where the latest rally and started and ended. Mapping a Fibonacci retracement indicator on the bottom to top range revealed that price could drop to the $1.41 to $1.69 range.The cryptocurrency exchanged hands at $2.31 at the time of writing. This was after an unexpected pullback during Tuesday’s trading session. This suggests that investors anticipate more upside, hence the resurgence of demand.
XRP spot flows indicate that the highest spot inflows into the cryptocurrency were observed at the start of December. Inflows peaked at 177.33 million on 1st December and the latest inflow figure on 10th December came in at $11.35 million.The spot flows also demonstrated a resurgence of outflows in the last 10 days. XRP outflows peaked at $155.79 million as at 4th December. The total outflows in the last 10 days have been higher than inflows, reflecting the pullback during the same period.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
XRP reserve requirement cut by 90%: Here’s why 1 XRP is all you need!The XRP Ledger reduces reserve requirements by 90%, boosting accessibility but raising infrastructure concerns.
Read more »
Gold market analysis for November 12 - key intra-day price entry levels for active tradersThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Gold market analysis for November 13 - key intra-day price entry levels for active tradersThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Gold market analysis for November 14 - key intra-day price entry levels for active tradersThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Gold market analysis for November 15 - key intra-day price entry levels for active tradersThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Gold market analysis for November 18 - key intra-day price entry levels for active tradersThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »