XRP-On-chain metrics XRP pared some of its gains after the SEC officially filed a notice of appeals against Ripple. The entire crypto market plunged sharply after Iran attacked Israel.
XRP ETP
According to Bitwise
Today we filed an initial registration statement on Form S-1 for a new Bitwise XRP ETP.
“We believe blockchains will usher in new apolitical monetary assets and permissionless applications for the 21st century,” said Bitwise CEO Hunter Horsley. “We aim to help investors access the opportunities in the space, and are excited to continue that work with our filing for a Bitwise XRP ETP.”
Transaction volume -
XRP transaction volume spiked sharply and hit 8-month high of $2.39 billion yesterday.
Market Value to Realized Value
XRP - 30-Day MVRV ratio is at -9.2% lowest in two months. This indicate an “opportunity zone” with limited risk.
Whale activity-
The whale transactions exceeding $1 million reached 145 (6-month high) (bullish for XRP).
Major resistance- 0.6000
Near-term resistance - 0.5800
Minor support- 0.5000,0.4350
Trend reversal level- 0.6800
It is good to buy on dips with SL around $0.400 for a TP of $1
