XRP like other altcoins, has followed Bitcoin's recent market downturn. But can the bulls defy the bearish odds?
Amidst the broader market volatility, can XRP bulls drive an upward swing, or will the Bitcoin plunge overshadow their efforts?As Ripple approaches its critical $0.52 support level, ongoing volatility could soon push it into a bearish swing, potentially plunging the price to $0.40., an analyst predicted that Ripple could defy the odds and test its $1 ceiling. Driven by this anomaly, AMBCrypto investigated who the odds would favor.
Unsurprisingly, the amount of XRP held on exchanges has dropped by $1 billion in just one month, reinforcing the facts mentioned above.That being said, despite the decreasing exchange reserve, the impact on XRP’s price did not inflate, suggesting that other factors, such as ongoing market volatility or bearish trends driven by Bitcoin, might be outweighing the effects of lower exchange reserves – So, are they?According to AMBCrypto’s chart analysis, XRP surged in tandem with rising OI.
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