XRP has shown significant price movements in the past 24 hours, attracting traders' attention. Despite a decrease in trading volume, it is holding up better than Bitcoin.
Current XRP Price Movements
XRP recently dropped to a key support zone between $1.95 and $2.10. This level has been important in the past. Although trading volume is down by 6%, XRP is much more stable than Bitcoin, where the drop was 37%.
Analysis by Analyst Josh
Crypto analyst Josh from Crypto World noted that XRP is showing a slight bullish bounce following an oversold signal in the RSI. This indicates a potential corrective rally in the next day or two. Josh explains that this isn't necessarily a bottom signal but rather suggests a need for short-term price adjustment of XRP.
Impact of SEC Meeting on XRP
The SEC held a closed-door meeting on April 3 to discuss legal and administrative proceedings related to XRP. Reports suggest that this meeting could clarify XRP’s regulatory situation, potentially having a positive impact on Ripple’s growth opportunities in the U.S. financial market.
Thus, XRP continues to exhibit volatility in the market, requiring close attention to price movements and regulatory events.
