Delta

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ripples-xrp-bulls-spark-market-activity/" data-wpel-link="internal">Ripple’s XRP Bulls Spark Market Activity</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/816-milyon-adet-xrp-transferi-ripple-ekosisteminde-suphe-yaratti" data-wpel-link="internal">Ripple</a> (<a href="https://en.coin-turk.com/the-impact-of-btc-on-ripple/" data-wpel-link="internal">XRP</a>)</strong> bulls sprang into action on March 11. The cryptocurrency’s trading activity pushed prices up from the day’s opening at $0.608 to $0.744, a 22.37% increase, before prices fell back below $0.7.</p> 
<h2 id="the-struggle-of-xrp-bulls">The Struggle of XRP Bulls</h2> 
<p style="text-align: justify">A recent report exceeded expectations that predicted a move towards $0.7, leading to increased earnings for the altcoin, but also raised questions about the sustainability of demand. On March 11, the highest levels of the $0.7 range were surpassed, yet bulls could not defend this level as support.</p> 
<p style="text-align: justify">The situation resembled a rapid rise towards the $0.7 resistance at the beginning of November, which was quickly rejected. The On-Balance Volume (OBV) indicator’s rise above July’s highest levels and its ability to stay there is noteworthy. The continuous increase in buying volume could keep bears at bay, but it is uncertain whether this optimistic outlook will persist.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-326697 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/riplpe.png" alt="" width="1906" height="1077"></p> 
<h2 id="liquidity-in-ripple">Liquidity in Ripple</h2> 
<p style="text-align: justify">Furthermore, experts now indicate that a downward move towards $0.64 or $0.52-$0.54 could start, given the reduced liquidity just above $0.7. The price of the cryptocurrency is swayed by liquidity, and despite the strength of the altcoin market, XRP lags behind. As XRP prices rose, open interest followed, increasing from $600 million to $830 million, with spot Cumulative Volume Delta (CVD) also rising.</p> 
<p style="text-align: justify">However, the second indicator continued its previous downward trend, which is bad news for bulls. According to experts, the rise could be driven by the futures market, not by real demand, suggesting it could be a liquidity trap. Therefore, a pullback towards the support levels of $0.64 and $0.54 could follow. Consequently, <a href="https://en.coin-turk.com/xrp-price-drops-is-the-rally-hope-over/" data-wpel-link="internal">Ripple</a> surged 22.37% to $0.744 on March 11 but failed to break the $0.7 resistance, entering a downtrend. Experts point out that this could be related to futures rather than actual demand.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ripples-xrp-bulls-spark-market-activity/" data-wpel-link="internal">Ripple’s XRP Bulls Spark Market Activity</a></h5>

Ripple’s XRP Bulls Spark Market Activity

Table of Contents

COINTURK NEWS

Other articles published on Mar 13, 2024

Bitcoin whales start cashing out: Should you press the panic button?

Rapper Drake Posts Michael Saylor Video Lauding Bitcoin As A Store Of Value To His 146 Million In...

Bitpanda and Leadblock Partners Launch €50 Million Fund to Invest in Early Stagedigital Assets St...

Apple Shifts Focus from EV to AI and AR Development

Nigeria Intensifies Crackdown on Binance with User Data Request

XRP To Skyrockets To $1.33 Amidst April Rally: Analysts

Join our free newsletter for daily crypto updates!