XRP had to face increasing sales pressure because the lowering market conditions pushed the Altcoin to a monthly hollow. Investors looking for a recovery can be disappointed, as Altcoin remains vulnerable to other drops.
Low market participation and negative momentum indicate the potential for additional short -term losses.
XRP investors are skeptical
The divergence indicator of active addresses daily (DAA) of price is currently afflicting a sales signal. This lower signal stems from a combination of drop in prices and the drop in investor participation.
With fewer active addresses interacting with the network, the purchase of the momentum seems to be weakening, making XRP vulnerable to continuous movement.
While the reduction continues, investors are retreating, more attenuating the purchase interest. If this trend persists, it could accelerate the decline of XRP.
The relative resistance index of XRP (RSI) fell to a hollow of three months, strengthening the high bearish momentum. The RSI, which measures the market strength, indicates that the sales pressure is intensifying.
If this trend continues, XRP could soon enter the surveillance area, limiting all the chances of an immediate rebound.
A dive in the territory of occurrence generally suggests that an asset is underestimated, which can sometimes trigger a resumption of prices. However, the historical performance of XRP indicates that prolonged lowering conditions could extend the losses before any significant reversal.
XRP price prediction: bouncing is the key
XRP is currently negotiating at $ 2.37, holding above its level of critical support of $ 2.33. Cryptocurrency has been a constant drop since the beginning of the month.
Despite temporary stabilization, the lowering indicators suggest that XRP can find it difficult to recover without a significant change in market momentum.
The continuous decrease trend suggests that another decline is likely. If XRP loses its support by $ 2.33, the price could fall to $ 1.94, increasing the losses of investors. A rupture below this level would confirm a prolonged bearish control, which makes recovery even more difficult in the near future.
However, a rebound on $ 2.33 could allow XRP to recover the resistance of $ 2.70. If the Altcoin successfully throws this level in support, it would invalidate the lower perspective.
Such a decision could restore investors’ confidence and open the door to a potential recovery in the coming weeks.
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In accordance with the Trust project guidelines, this price analysis article is for information purposes only and should not be considered as financial or investment advice. Beincrypto is committed to exact and impartial reports, but market conditions are likely to change without notice. Always carry out your own research and consult a professional before making financial decisions. Please note that our terms and conditions, our privacy policy and our non-responsibility clauses have been updated.
