XRP continues to show its strength despite the recent market volatility. While Bitcoin has experienced net movements, the action of XRP prices remained relatively stable. Currently, XRP is negotiated about $ 2.20, with a solid support forming between $ 2.17 and $ 2.23.
In the end of next week, several key economic events could cause short -term oscillations on the wider market of cryptography. Wednesday, investors will closely monitor the basic report of PCE inflation and GDP data, followed Thursday complaints on unemployment and the manufacture of PMI. Friday unemployment data will complete the week. Although this data can trigger intraday volatility, analysts believe that it is unlikely that it will move the long -term XRP trend, unless the results differ considerably from forecasts.
From a technical point of view, XRP remains in a wider negotiation range, despite recent lower ups and lower stockings. Analysts suggest that this movement always supports the idea of consolidation rather than a complete decline. XRP could briefly drop to $ 2.05, but a continuation of $ 2.35 or $ 2.40 seems more likely if current support levels are maintained.
The volume for XRP remains relatively low, but its correlation of 84% with Bitcoin means that it can reflect BTC movements in the short term. For the moment, XRP is stable, and unless there is a major change in macroeconomic data, it can see a progressive rise movement in the coming days.
