XRP continues to hold a vital position above the $240 mark as investors closely monitor upcoming ETF decisions. The cryptocurrency's trading activity remains stable, reflecting a cautious market sentiment amid regulatory developments. The publication provides the following information:
XRP Trading Range and Market Conditions
Currently, XRP is trading within the $230 to $250 range, characterized by significant trading volume and ongoing liquidity challenges. This stability comes as the U.S. Securities and Exchange Commission (SEC) approaches decisions on six spot XRP ETF applications, which has led to increased caution among market participants.
Analysts' Outlook on XRP
Analysts are optimistic, suggesting that a volume-backed close above the $240 threshold could pave the way for a target of $265. However, they also warn that the likelihood of testing the $228 level increases if market conditions turn unfavorable, highlighting the delicate balance XRP must maintain in the current environment.
As XRP maintains its position above $240, Mantle (MNT) is also showing signs of recovery, forming a bullish pattern. For more details, see the full article here.
