XRP Buyers Anticipate Potential Breakout Amid Legal Clarity
- XRP has been trading between $1.37 and $1.45, with buyers stepping in at higher lows.
- The MACD indicator turned bullish in mid-April, marking the first time since January.
- Whales accumulated approximately 360 million XRP tokens over a week in mid-April.
- Spot XRP ETFs saw a $55 million inflow during the week ending April 18, the strongest of the year.
- Regulatory clarity was achieved on March 17, classifying XRP as a digital commodity by US authorities.
XRP’s price action suggests building buying pressure as it forms a triangle pattern on the charts, hinting at a potential breakout despite sellers defending resistance levels around $1.45.
The recent legal classification of XRP as a digital commodity may encourage institutional investors to re-engage with the token, potentially fueling further market activity and price movements. (Source)
