XRP Bulls Lose Momentum Despite U.S. Government’s Crypto Push!
A new U.S. digital asset strategy has been established by an executive order signed by President Donald Trump. This new order establishes a national stockpile of XRP and other cryptocurrencies, as well as a Bitcoin reserve for the U.S. government. The action is a component of the endeavor to safeguard digital assets for the future stability of the economy. The price of XRP has not responded favorably as anticipated, despite the euphoria surrounding the executive order. XRP is currently trading at $2.51, down more than 3.34%.
Josh, a Crypto World analyst, claims that the price of XRP has been having trouble on the three-day chart. When the RSI does not match greater price highs, the asset is displaying a substantial negative divergence, a sign of waning bullish momentum. This implies that significant price increases are unlikely to occur in the near future.
XRP Faces Strong Resistance: Will Bulls Push Past $2.80?
Resistance for XRP is found between $2.65 and $2.80. The price has had difficulty rising beyond this range, suggesting that it may continue to meander horizontally. XRP may experience additional downward pressure and might hit $2 if it falls below $2.25. But if the price rises beyond $2.80, there will be more resistance near $3.20 and around $3.
However, CryptoQuant cautioned that the third-largest digital asset’s open interest has risen by more than 5.5% in a brief period of time, indicating a leverage-driven price surge. The analytics company also warned traders to control their risk because XRP’s future price swings might be crazy.
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