This is a daily technical analysis of Coindesk analyst and chartered market technician Omkar Godbole.
A measure of XRPs
Award volatility has crashed to the lowest level since President Donald Trump’s victory in the US election in November. Still, it is not yet at the level that has historically despised strong directional trends.
The XRPS 30-day annual realized volatility, a measure of how unstable prices have been in the last four weeks, recently dropped to 44%, the lowest since the beginning of November, according to data source trading. The fall marks a sharp slide from heights over 150% registered in December and March.
Volatility -Meltmelning follows dull price action in the XRP market. This despite the debut of the XRP futures at CME, several issuers are applying for Spot XRP ETFs and the overall positive regulatory development for the crypto industry during Trump’s Presidency.
Since March, XRP has primarily traded back and forth between $ 2 and $ 2.60, which prevents occasional short-lived dips under $ 2. XRP is the payments-focused cryptocurrency used by fintech company Ripple to facilitate cross-border transactions.
Price action is in line with Bitcoin, the leading cryptocurrency with market value, which has mostly traded between $ 100,000 and $ 110,000 for nearly 50 consecutive days.
What next?
Volatility is average-up-turning, which means that over time it tends to swing around its long-term average. In other words, a sharp increase in volatility often paves the way of consolidation, and a long -term decrease in volatility usually sets the stage for strong directional trends.
That said, the 30-day realized volatility is still well above the area 15% to 30%, which has marked the volatility base and renewed the prize bulbules since 2014.
Read more: New judge relaxes SEC, Ripple’s second request for an indicative decision on proposed $ 50 million.
