The price of XRP has fallen sharply to act at the time of writing $ 2.15. This drop comes shortly after the US Securities and Exchange Commission (SEC) has delayed its decision about the Franklin Templeton XRP ETF application. The new deadline of the assessment has now been pushed until November 2025, so that more uncertainty is added to the market.
XRP -Price analysis: what happens?
Looking at the daily price diagram of XRP, the market is currently showing a weak momentum in both directions. The price promotion remains turbulent and accessible, for now between $ 2.10 and $ 2.35. Unless the price breaks out of this reach, traders expect XRP to continue to move sideways in the short term.
Important support levels for viewing are between $ 2.10 and $ 2.05. If XRP falls under this range, the following support is between $ 1.95 and $ 1.91, followed by $ 1.80. On Bullish Front, resistance is seen around $ 2.32 to $ 2.36. A clear movement above can open the door for a rally to $ 2.44 and $ 2.60.
What is the next step for XRP?
Despite the recent dip, XRP has been in an upward trend since April. There is still hope for a fifth golf rally that could push the XRP prices above $ 5 in the long term, but to happen, XRP must retain support levels and break above recent highlights.
In the short term, unless XRP can climb past $ 2.33 and form a clear bullish pattern, the price is expected to be reached, whereby traders will soon be aware of whether the market will soon find a stable support zone.
Conclusion
The decision delay of the SEC has clearly shocked the market, and although the long -term bullish hope remains alive, XRP is currently struggling for Momentum. Until a clearer step takes place, traders can expect more lateral price action in the coming days.
Credit : coinpedia.org
