Crypto
XRP Stabilizes Above $1.50 Amid Cooling Selling Pressure
Ripple's XRP token has shown signs of stabilizing after reclaiming support at $1.50 on Tuesday, according to technical analysis.
A robust technical structure underpins the token's short to medium-term bullish outlook, with key Exponential Moving Averages (EMAs) firmly in place.
Despite a recent correction from September highs around $1.66, XRP is still trading above mid-August lows, suggesting that supply remains elevated on Binance.
The amount of XRP on Binance exchange has shrunk to 2.69 billion XRP as of Monday, down from 2.7 billion XRP last Saturday, indicating cooling selling pressure in the open market.