XRP Shockingly Flashes Death Cross Amid 190% Volume Surge
Main Idea
XRP's price has surged following the resolution of the SEC lawsuit, but a death cross formation on its daily chart raises concerns despite the rally. Analysts speculate that an XRP ETF could be the next catalyst for further price growth.
Key Points
1. XRP price jumped over 10% after the SEC and Ripple Labs jointly ended their lawsuit, maintaining an 8.32% rally in 24 hours to $3.33.
2. Despite the rally, a death cross formation has appeared on XRP's daily chart, signaling potential downward pressure.
3. XRP's seven-day growth is 12.8%, and its 30-day rally is 40.13%, but this hasn't prevented the death cross formation.
4. Analysts believe the legal clarity around XRP removes hurdles for a potential spot ETF, with expectations that BlackRock may file for an XRP ETF soon.
5. An ETF approval could push XRP's price above the $4 range, though short-term price slowdown is expected.
Description
XRP price soaring, but death cross formation spotted on daily chart
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