Starting from August 2021, the XRP market has become inconspicuous and attractive to investors. The fact is that the XRP dynamics are gone. At a time when SOL or AXS were giving their investors crazy interest in a short period of time, the XRP price moved peacefully in the range of $0.9-$1.28. During this time, sellers tried to take control of the global liquidity zone of $0.9-$1.
We noticed that in this range, the fight is continuing since April 2021. The liquidity zone of $0.9-$1 is traded on the global timeframe. Also, the winner will have the right to set a medium-term price trend. The last three trading weeks in the XRP market were held at low volumes. The price rested on the liquidity range as much as possible. Now, there is the ideal time for buyers to start a new growth impulse.
Analyzing the daily timeframe, we can see that today sellers were able to start a local fall wave, which will depend on how the year ends. The main trigger of today's XRP price fall by 15% was the breakthrough of BTC sellers — the $59,000 mark. While the BTC price was slowly falling within the correction channel without high volumes, other coins tried to grow. However, having lost control of the $59,000 mark, buyers worried the entire cryptocurrency market.
Analyzing the strength of the fall of different cryptocurrencies, we can see that the XRP fall is one of the smallest. Some of them fell by 30%. Therefore, although the level of the XRP popularity is currently low, but the level of protection and keeping the price are at the highest level. Losing control of the $0.9-$1 range will force buyers to retreat to the next liquidity range of $0.7. But, if this scenario intensifies, then investors will have to forget about the medium-term growth wave in the near future.
The weekly timeframe of the XRPBTC trading pair also shows a decrease in volatility and price inhibition near the liquidity range of 0.000016-0.000017. For the third week, sellers have not been able to break this range down. Low trading volumes indicate the complete exhaustion of sellers. In fact, since 9 August, there has been no local upward correction in the XRPBTC market. Now is the ideal time to invest in this cryptocurrency, especially when a local sale continues in the market.