VOT Research Desk
After the events of last night, Ripple’s (XRP) price activity is fairly subdued, whilst other asset classes experienced more significant movement.
Despite the fact that it appears to be an accident and collateral damage from Ukraine’s missile defense system against Russian threats, it serves as a warning that this tail risk is still very much a reality and must be taken into account.
Expect any pullbacks to be totally erased during the US session and for the optimistic feeling to persist.
This week, the price of XRP is expected to continue rising bullishly as pressure increases against the 200-day simple Moving Average (SMA) at about $0.40. Expect $0.4228 to be the next cap to the upside once that moves upward.
The price action in XRP is expected to rise toward $0.48 by the end of this week; despite the fact that markets are tense right now should the dollar continue to fall.
As the probe continues, the risk to the downside rests on the NATO declaration. NATO would militarise and even take military action against Russia if its members switched from Article 4 to Article 5. A Black Swan occurrence of that magnitude would have the potential to first drive the price of XRP toward $0.37. The next move would be a drop in search of support toward $0.30.
