At the start of the week, XRP has seen a noticeable recovery after a sharp sell-off that brought the price below $2.
Overview of XRP Dynamics
XRP began the week with a strong rebound after sell-offs that drove the price down to $1.90 on Sunday. On Monday, XRP rose by 10%, reaching $2.20 but faced short-term resistance, after which it remained at $2.18 with a slight 0.6% drop over the last 24 hours.
Technical Indicators and Resistance Levels
Technical indicators show neutral readings, with the Daily Relative Strength Index at mid-point, indicating market indecision. Further price movement will depend on whether XRP can break above the $2.20 level, with the next resistance target at $2.26.
XRP Ledger Update and Its Impact
A significant event is the release of Version 2.5.0 of Rippled, which includes major changes to the XRPL ecosystem, such as batch transaction support and new token escrow features. This update may influence the future growth and adoption of XRP in the market.
XRP's recovery reflects market reactions to current news, but uncertainty remains, and further price movements will depend on new catalysts.
