The cryptocurrency XRP is showing significant price fluctuations due to instability in the global financial market. We analyze the current state and forecasts.
Current State of XRP Market
Over the weekend, the price of XRP dropped from $3.35 to $3, followed by a slight rebound. The current market trend has resulted in a 'death cross' on hourly charts, indicating potential selling in the short term.
News on XRP Ledger Payment System
In positive XRP news, Nasdaq-listed Wellgistics Health is launching an XRP Ledger-based payment system for thousands of pharmacies across the U.S. This expands its bet on blockchain in healthcare finance. Notably, Wellgistics also plans to use XRP as a treasury reserve asset, supported by a $50 million equity line of credit.
Forecasts and Potential Scenarios for XRP
XRP confirmed support at $3 through repeated tests. The RSI indicator, slightly above mid-level, suggests a possibility of consolidation. If XRP holds above $3, the price might rise to the $3.35-$3.38 range, and breaking above $3.40 could lead to $3.66. Conversely, if bearish pressure intensifies, the critical support level will be $2.91.
Potential scenarios for XRP depend on its resilience to support and resistance levels, which is crucial given the current market volatility.
