The price of the Ripple-XRP room is around $ 3.17 after its increase of approximately 4% in the last 24 hours with daily negotiation volumes of $ 6 billion, after winning the third in the layout of digital currencies in terms of market value as an additional dynamic as approaching a pivot barrier. While the coming weeks gain additional importance, because the final dates of the decisions of the American Committee on Securities and Exchanges (SEC) should decide on the requests submitted to create boxes circulating on the Stock Exchange linked to the immediate transactions of Ripple (XRP Spot ETF) from October 18 to 25.
The ripple currency obtains gains with the date of approach to the dry
The securities and exchanges committee (SEC) continues to postpone its final decisions concerning the requests submitted to create immediate negotiation funds for the Ribel currency on the Stock Exchange (XRP Spot ETF), including the request of Franklin XRP ETF submitted in March. A decision should be made in this regard on November 14, while the final dates were set for the rest of the ETF requests between October 18 and 25.
Currently, 15 requests for the creation of FNB SPOT XRP are studied, and the penalty shootout is the polymarket market to approve 93% before the end of the year, in a similar atmosphere for a period of anticipation of approval of its previous launch of ETHEREUM SPOT; The reports did not affect the positive general mood associated with money.
It should be noted that if the approvals are made as a factor in the institutional adoption of the undulation, and can provide them with solid investment resources which relaunch its liquidity, and the start of the season of alternative currencies will contribute to the creation of conditions; When the value of the alternative index of the currency season reached 78 in an indication of recycling of investments towards them Bitcoin-BTC, to train these conditions combining a solid starting base for the price of the undulation if the approvals are issued in October.
The demand for investors and an individual term for the term contracts
Blockchain data and derivative markets reveal an increasing demand for undulation; The open interest (the total value of derivatives of derivatives) associated with money increased to $ 8.51 billion this week after being 7.37 billion last week. While the number of speculative traders has increased, open interest has remained lower than the level of July, amounting to $ 10.94 billion, to suggest this continuous increase in growing confidence in its future performance.
It should be noted the increase in financing rates (additional costs that speculation pays to open rabbinical term contracts) to reach 0.0107% last Friday after traders have retained their speculative transactions on the rise, confirming the will of the influential price of price movement.
Important points that support the missionary scenario:
- Open interests increased from $ 7.37 billion last week to $ 8.51 billion currently.
- High financing rate at 0.0107% in an indication of the will of speculators to pay additional costs for speculation on the height.
- Stability reading The alternative index of the currency season at 78 means that alternative currencies receive additional investments.
All this indicates the anticipation of October incentives which can ignite the expected beginning.
Price forecasts of wave currency – technical perspectives
The price of the prices of the corrugated part has become more optimistic technical after the success of the price by penetrating the style of descending chain, which is one of the promising models with the reflection of the path, and its penetration to the top is an indication of the end of the correction wave, which prompted the price to stability at the top of the 50-day average at the range of 2.01 years, and its 200-day meter (EMA-200) 3.01, and 2000 days of 200 days (EMA-200) at the $ 3.01 range, and 200 days. represents the long -term support of prices.
Fibonacci correction levels show that $ 2.99 represent the price of the price of the training currency on a barrier of $ 3.25, and its penetration allows to follow about $ 3.43 and perhaps testing the start-up barrier from July to $ 3.66. And if this amount of movement continues and follows the arrival of institutional investments, its price can be targeted for its $ 5 in the medium term.
On the other hand, reading the relative power index (RSI) settled at 63 years without the scope of the excess purchase, and the recent swallowing candles indicate an increase in purchase pressures and comply with the prices of prices, and merchants can between risk and bonuses by opening a speculative case on the height as soon as the barrier of 3.26 is penetrated by 3.26 is penetrated by 3.26 the severity of $ 3.43. Below $ 2.99.
If requests from ETF XRP are approved between October 18 and 25; The price of the training currency can start with the top of its last summit at $ 3.66, and its launch can expand at $ 5.
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The position of expectations for Ripple-XRP prices: the final dates expected for the Committee of Securities and Exchange (SEC) light between October 18 and 25, the launch spark? APPLERDIRST on Arab Cryptonews.
