U.S. President Donald Trump has signed an executive order establishing a new digital asset strategy, including creating Bitcoin reserves and a national stockpile for XRP and other altcoins. This move aims to ensure future economic stability.
Impact of Order on XRP Market
Despite discussions around the order, the price of XRP has not shown the expected increase. Currently, XRP is down by more than 1%, trading at $2.50.
XRP Price Analysis: Caution Signal
According to analyst Josh of Crypto World, XRP's price is experiencing significant bearish divergence on the 3-day chart. This indicates weakening bullish momentum, suggesting that large price gains are unlikely in the short term.
XRP Resistance and Support Levels
XRP is facing resistance between $2.65 and $2.80. If the price drops below $2.25, further decline to $2 is possible. However, if $2.80 is breached, resistance levels at $3 and $3.20 are expected.
Currently, XRP is stuck in a sideways price range, with support around $2.25 to $2.30. The next major move will depend on the asset's ability to break through the resistance levels mentioned above, as market watchers cautiously await a confirmed breakout.
