$XRP Managed to Hold Important Support at $1
The asset consolidated above the $1.5 mark, defending its positions after a powerful rally and a recent assault on the local high around $1.6612.
The activity of large players and institutional funds is the main catalyst for the current rally. Large wallets continue to withdraw the token from free exchange balances to cold storage, creating a severe liquidity shortage.
The $1.66 resistance level remains the main obstacle for buyers now; a full breakout would open the way into the $1.8–$2 range. However, given local overheating on smaller timeframes, before new impulses, a spike above current highs and a return of the coin to the MA200 moving average line is possible.
The asset consolidated above the $1.5 mark, defending its positions after a powerful rally and a recent assault on the local high around $1.6612.
The activity of large players and institutional funds is the main catalyst for the current rally. Large wallets continue to withdraw the token from free exchange balances to cold storage, creating a severe liquidity shortage.
The $1.66 resistance level remains the main obstacle for buyers now; a full breakout would open the way into the $1.8–$2 range. However, given local overheating on smaller timeframes, before new impulses, a spike above current highs and a return of the coin to the MA200 moving average line is possible.
