Trump's announcement sparked huge interest in XRP, which led to active purchases of the cryptocurrency, driving the token's value to new heights.
Investors in XRP On A Wave of Optimism
The Price DAA Divergence (PDA) indicator points to the prospects of buying XRP as the coin's price and investor activity are on the rise. The increase in the number of active addresses shows that more people are entering the market, which increases interest in the token. This is a positive signal for the price of XRP, as an increase in activity usually indicates investor confidence, which can support the cryptocurrency's appreciation.
Positive signals from investors are accompanied by a surge in market activity, which often bodes well for long-term price growth. The inclusion of XRP in Trump's proposed reserve certainly added legitimacy to the cryptocurrency, which helped build investor confidence in the project.
The Chaikin Money Flow (CMF) indicator confirms the positive market sentiment around XRP. The CMF is showing a sharp rise, indicating that investors are actively buying XRP. This rise is likely due to Trump's announcement, which has given the altcoin a significant boost. The rise in CMF reinforces the bullish trend, suggesting that the XRP price may continue to move upwards.
The rise in CMF indicates an increase in demand for XRP, which could push the price higher. Continued investor support, driven by both the announcement and improving market sentiment, suggests that XRP is poised for further gains.
XRP Is Rising Sharply
At the time of writing, XRP is trading at $2.7, marking a 30% increase over the past 24 hours. Bullish factors are bringing XRP closer to breaking through resistance at $2.95. If this level is broken, XRP could rise to $3.00, setting the stage for further gains.
If the price continues to break through resistance, XRP could test its all-time high (ATH) of $3.40. Breaking this level will allow to set a new ATH, signaling further growth of the altcoin. Such a development could attract even more investors and possibly lead to new records for XRP.
If the rally slows down and investors start taking profits after the recent surge, XRP may find it difficult to overcome resistance at $2.95. In this case, the altcoin could fall below $2.70, which would temporarily halt the rise. The change would mean a short-term consolidation before further price changes.
