Market Fundamental Analysis by RoboForex

[RBFX Support]

XRP retains chances of reaching new local highs

XRPUSD is undergoing a correction following a rise, but the price holding above key levels supports expectations of further growth. The price currently stands at 1.1076. 

XRPUSD forecast: key takeaways

• XRPUSD entered a moderate correction phase after a strong upward momentum
• Spot XRP ETFs in the US saw no net capital inflows for the first time in eight weeks
• The main reason for the pause in investment inflows was stronger resistance near 1.15

Fundamental analysis

The XRPUSD rate moved into a moderate correction after the strong upward momentum formed a day earlier. Buyers tested the key resistance level near 1.1145 USD, where they encountered profit-taking, which triggered a local decline in prices.

The fundamental backdrop remains mixed. For the week ending 13 July, spot XRP ETFs in the US did not record net capital inflows, breaking an eight-week series of steady investment, during which the funds attracted about 1.48 billion USD. 

RoboForex Market Analysis & Forex Forecasts

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

Edited 2 hours ago by RBFX Support