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XRP Price Undergoes Brief Recovery

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XRP has recently experienced a temporary recovery amidst ongoing market volatility. After a period of sustained downward pressure, XRP’s price has rebounded, offering a brief respite for traders and investors. This recovery comes amid a broader context of fluctuating market conditions, driven by various factors including regulatory developments, market sentiment, and overall cryptocurrency market trends.

Despite this positive movement, the market remains highly unpredictable, and it is uncertain whether XRP’s recovery will be sustained in the long term. Investors are closely monitoring the situation, analyzing technical indicators and external factors to gauge the potential trajectory of XRP in the coming days. This introduction explores the factors behind XRP’s temporary recovery and the implications for its future performance in a volatile market environment.

Technical Overview Of XRP Price 

Technically looking at the chart from the 1-hour chart, it can be observed that XRP is attempting a recovery move from its downward surge. This move, however, will lead to more drop in XRP as the price is trading below the 100-day Simple Moving Average (SMA).

XRP

The 1-hour Relative Strength Index (RSI) indicator also confirms this as the RSI line is currently moving toward the 50% level. Therefore the RSI line suggests that XRP’s price will move upward to a point where the price will begin to drop again.

From the 4-hour chart, it can be observed that XRP is also attempting an upward recovery move after creating support at $0.4714.

XRP

A final look at the chart with the 4-hour RSI indicator reveals that the price of XRP will still move upward for a while before continuing in its downward trend. The reason for this is that the RSI line is attempting an upward move out of the oversold zone.

The Crypto Asset Poised For More Drop

In conclusion, XRP’s recent temporary recovery amidst market volatility highlights the dynamic and unpredictable nature of the cryptocurrency market. Thus far, this recovery has led to XRP moving toward the 1-hour resistance level of 0.4887. If the price breaks above this level, it may move higher to test the $0.560 level.

However, it should be noted that this is just a temporary move, as at some point the price will start declining again. When this happens, XRP will begin to move toward the $0.4714 support level. Should the asset break this level, it will continue to move downward to test the $0.4546 support level and may probably move on to test or create new levels.

With a market capitalization of more than $26 billion and a trading volume of more than $1.2 billion as of the time of writing, the price of XRP is up by 0.04%, trading at around $0.4802 in the last 24 hours. XRP market cap and trading volume are currently down by 1.09% and 11.13% respectively.

XRP
XRP trading at $0.04818 on the 1D chart | Source: XRPUSDT on Tradingview.com

Featured image from Adobe Stock, chart from Tradingview.com



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XRP Price Holds Above $2.47, But Bulls Struggle to Gain Control

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Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.



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Top 5 Made in USA Cryptos to Watch – Late February Picks

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Story, Ondo Finance (ONDO), OFFICIAL TRUMP, Solana (SOL), and Uniswap (UNI) are five Made in USA cryptos to watch closely in the last week of February. Story has gained massive attention as a top AI crypto, despite a recent short-term correction.

ONDO continues to lead in the Real-World Assets sector but faces downward pressure, while TRUMP hovers near all-time lows with high volatility due to news sensitivity. Meanwhile, SOL struggles after a sharp decline, and UNI shows potential for a breakout with the launch of Unichain, sparking renewed interest.

Story (IP)

Story has quickly become one of the most successful Made in USA cryptos recently launched, securing a spot in the top 10 artificial intelligence cryptos within its first days.

IP Price Analysis.
IP Price Analysis. Source: TradingView.

Story’s market cap is around $1 billion, and its price has risen nearly 160% in the last seven days, showing strong bullish momentum. However, it’s been down more than 6% in the last 24 hours, suggesting a short-term correction as investors take profits.

If this correction continues, Story (IP) could test the support at $3.65, and losing this level could lead to a drop to $2.12. Conversely, if momentum recovers, it could challenge the resistance at $5.32 and, if broken, target $5.88 next.

Ondo Finance (ONDO)

ONDO remains one of the most relevant and largest players in the Real-World Assets (RWA) sector, maintaining its strong presence despite recent price declines.

Its market cap is currently at $3.55 billion, but the price has corrected by over 25% in the last 30 days.

ONDO Price Analysis.
ONDO Price Analysis. Source: TradingView.

If the current downtrend continues, ONDO could test the support at $1.09, and losing this level could push the price down to $1. However, if ONDO manages to reverse this trend, it could challenge the resistance at $1.25.

Breaking this resistance could lead to a rise to $1.44, and if the uptrend gains strong momentum, ONDO could test $1.66. This would mark the first time ONDO goes above $1.5 since the end of January, signaling a potential bullish breakout.

OFFICIAL TRUMP (TRUMP)

TRUMP, the most hyped meme coin ever launched, is now trading close to all-time lows, staying below $20 since February 15. After reaching highs above $70 in its early days, TRUMP is now hovering around $16, reflecting a significant decline.

TRUMP Price Analysis.
TRUMP Price Analysis. Source: TradingView.

Donald Trump’s unpredictable nature makes TRUMP coin highly sensitive to news or statements related to him. Any impactful news could trigger sudden price movements.

If TRUMP can regain positive momentum, it could test the $17.4 resistance, with the potential to rise to $20.7 or even $24.5 if broken. However, if the downtrend continues, it could test support at $14.4 and possibly fall below $10 for the first time since its launch.

Solana (SOL)

SOL has faced significant selling pressure in recent weeks, dropping over 36% in the last 30 days. It has fallen from $268 to around $170 and has remained below $200 since February 15, reflecting a sharp correction.

SOL Price Analysis.
SOL Price Analysis. Source: TradingView.

Despite this downturn, Solana remains a leader across various metrics, including coins launched, trading volume, and dex trades. However, growing concerns about the chain’s extractive ecosystem have sparked debate among users. Sentiment worsened following the launch of the LIBRA meme coin, adding further uncertainty to SOL’s outlook.

If SOL can regain upward momentum, it could test the $180 resistance, and breaking through this level could lead to $188. A strong uptrend would be needed to challenge $205.

Conversely, if selling pressure continues, SOL could test the support at $160, risking further downside.

Uniswap (UNI)

Uniswap remains one of the most influential DeFi applications, and the recent launch of Unichain could attract a new wave of users and capital. UNI has also been one of the most important altcoins in the DEX ecosystem for years.

UNI Price Analysis.
UNI Price Analysis. Source: TradingView.

If UNI can establish an uptrend, it could test the resistance at $9.68, with the potential to reach $10.24 if momentum continues. A strong rally could push UNI to $12.8, its highest level since February 1, signaling renewed bullish sentiment.

However, UNI is currently down over 7%, and if the correction continues, it could test the support at $8.59. Losing this level could lead to a drop as low as $7, falling below $8 for the first time since November 2024.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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BNB Faces Bearish Pressure Despite Booming Ecosystem

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BNB has been in the spotlight in the last few weeks, with rising trading volume and growing interest in its ecosystem, including meme coins like TST. Despite the hype, BNB’s price is down more than 3% in the last seven days, reflecting continued market uncertainty.

Its DMI shows weak trend strength and growing selling pressure, while the Ichimoku Cloud indicates a bearish setup. With EMA lines showing no clear direction, BNB faces a critical moment as it could either regain momentum or drop below $600 if the downtrend continues.

BNB DMI Shows Buyers Tried to Gain Control, But Sellers Are Rising Again

BNB’s DMI chart shows its ADX at 14, reflecting weak trend strength after touching a low of 11.1 yesterday and briefly rising to nearly 16 a few hours ago.

ADX, or the Average Directional Index, measures the strength of a trend without indicating its direction. It ranges from 0 to 100, with values above 25 indicating a strong trend and values below 20 suggesting a weak or undefined trend.

With ADX at 14, BNB is currently in a low-momentum phase, indicating that the market lacks a clear directional trend.

BNB DMI.
BNB DMI. Source: TradingView.

+DI is at 22.5, up from 15.2 yesterday but down from 30.3 a few hours ago, suggesting that buying pressure increased but then weakened. Meanwhile, -DI is at 23.5, rising from 14.2 one day ago, indicating growing selling pressure.

The proximity of +DI and -DI shows a tug-of-war between buyers and sellers, reflecting market indecision. With ADX low and +DI and -DI close to each other, BNB price is likely to remain range-bound until a stronger trend emerges.

If +DI crosses above -DI, it could signal a bullish reversal, while -DI maintaining dominance could lead to further downside.

Ichimoku Cloud Shows a Bearish Setup

The Ichimoku Cloud for BNB shows a bearish outlook. The price is currently trading below the cloud, indicating downward momentum. The red cloud ahead suggests resistance, making it challenging for BNB to break above current levels.

The Tenkan-sen (blue line) is below the Kijun-sen (orange line), confirming a bearish crossover, which typically signals continued selling pressure.

BNB Ichimoku Cloud.
BNB Ichimoku Cloud. Source: TradingView.

Additionally, the Chikou Span (green line) is below the price action, supporting the bearish sentiment. If this downtrend continues, BNB could test lower support levels.

However, a breakout above the red cloud would be needed to shift to a bullish outlook. For now, the bearish structure remains intact, suggesting further downside risks.

BNB Could Drop Below $600

BNB’s EMA lines are currently very close to each other, indicating a lack of clear trend direction. This consolidation suggests market indecision, with neither bulls nor bears taking control.

Despite this, BNB has been in the spotlight recently, with its trading volume surpassing Solana and meme coins like TST gaining attention within the BNB ecosystem.

BNB Price Analysis.
BNB Price Analysis. Source: TradingView.

If it can regain positive momentum, it could test the resistance at $685, and breaking this level could push the price up to $731.

However, if a downtrend emerges, BNB price could test support at $629. Losing this level could lead to a decline to $589, marking its first drop below $600 since February 8.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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