VOT Research Desk
The XRP price is taking its sweet time to surpass and maintain above a critical resistance level. If it is successful, it has the potential to trigger a rapid run-up.
However, due to the absence of volatility in crypto markets, the remittance token cannot do so on its own.
The much-needed volatility could arrive within the next two hours. The Joint Prevention and Control
Mechanism of the State Council in China is expected to hold a news conference in Beijing at 0700 GMT.
There is talk that China would abandon its zero-Covid policy. This outcome may alleviate concerns among investors who fled to safe-haven assets after protests erupted in China.
If an announcement confirms the lifting of the zero-Covid policies, it could provide a bullish boost to risk-on markets, including cryptocurrencies.
