XRP has consolidated in recent days, managing to stay above the $ 2 mark. However, after having validated a downward trend of four months at the beginning of the month, Altcoin is struggling to maintain its current position.
While the interest of investors passes, XRP can be faced with challenges in maintaining the momentum.
XRP loses the interest of investors
New addresses associated with XRP have reached a 5 -month low, reporting a drop in new interests for investors. This suggests that XRP loses ground on the market because a new capital fails to take place in the asset. The absence of new buyers could make XRP difficult to maintain its position greater than $ 2.
The drop in demand is worrying because XRP prices growth is often supported by new market players. With fewer investors entering the market, Altcoin can face a period of prolonged stagnation. Unless there is a change of demand, XRP’s ability to maintain its price level could be compromised.
The global macro momentum for XRP remains weak, as reflected in technical indicators such as the RSI. Currently stuck under the neutral line of 50.0, the RSI suggests that XRP is still in the lower area. This indicates a lack of bullish momentum, which could prevent Altcoin from seeing significant short -term rallies.
In addition, the broader feeling of the market continues to be lower, which has an impact on the potential for the recovery of XRP. Unless the market turns around or Altcoin finds new sources of demand, the price of XRP will probably remain deleted.
XRP Price faces the correction
The price of XRP is currently $ 2.10, holding above the support level of $ 2.02, but facing resistance at $ 2.16. The decreased trend that has persisted since the start of the year continues to weigh heavily on Altcoin. If the price fails to cross the level of resistance, XRP can try to push higher.
Current market conditions could prevent XRP from exceeding $ 2.16. However, if the price loses the support of $ 2.02, it can go to the next support level of $ 1.94. If this happens, Altcoin could undergo a greater drop, potentially reaching $ 1.79.
Alternatively, if XRP manages to violate the resistance of $ 2.16, it could come together around $ 2,27. With a change in the feeling of investors and market conditions, this could propel Altcoin at $ 2.40, invalidating the lower perspectives.
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