Cryptocurrencies: XRP retreats despite historic progress with the SEC!
XRP is falling just as its status reaches a crucial milestone. Now classified as a commodity, the asset could have attracted renewed interest. But this hasn't happened. The market remains under pressure, caught between technical weakness and macroeconomic tensions. This disconnect between regulatory progress and price reaction reveals a market that is still indecisive.
In brief
XRP retreats after an attempt to rise towards $1.60 and stabilizes near critical support around $1.39.
Technical indicators show persistent weakness, and the market remains under short-term pressure.
A key factor could determine the continuation of the movement, whether it's a bounce towards $1.50 or a retreat towards $1.30.
XRP now enjoys the status of a commodity, which represents a significant regulatory advance in the United States.
XRP under pressure: fragile technical signals and persistent selling pressure
XRP is currently trading in a lower range after a volatile week marked by rejection of higher levels, while Ripple prepares for its fourth massive token unlock. On March 22, the token was trading at $1.39993 and has fallen 2.95% in the last 24 hours, after briefly rising to around $1.60 before correcting.
The market remains under pressure, with the price close to its session low, around $1.385. Short-term analysis reveals a loss of momentum and a weakened market structure. XRP is holding near the lower Bollinger band, indicating persistent downward pressure, while trading below its major moving averages, limiting rebound opportunities.
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