XRP Price Continues to Decline as Market Sentiment Weakens
- Price Decline Trend: XRP is currently trading at $1.44, reflecting a 10% drop over the past week, a 30% decline in the last month, and over 40% year-to-date, indicating a significant loss of market confidence in the asset.
- Volume Changes: Despite the price drop, spot trading volume surged by 22% in the last 24 hours to $3.45 billion, suggesting that market participants are actively repositioning rather than remaining passive amid the downturn.
- Holder Losses: According to Glassnode, XRP's price has fallen below the average cost basis of its holders, entering a “stop-loss phase,” which indicates that most coins sold are at a loss, leading to a negative shift in overall profitability.
- Market Structure Analysis: The current market structure shows that while smaller holders dominate selling pressure, larger players are holding back from selling, which may keep prices subdued in the short term; if selling pressure remains high, prices could test the $1.30 support zone.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for XRP
Technical Sentiment Analysis for XRP (XRP) As of , XRP (XRP) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
XRP (XRP) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.601 | 0.859 | 1.165 | 1.423 | 1.728 | 1.986 | 2.291 |
| Fibonacci | 0.859 | 1.074 | 1.207 | 1.423 | 1.638 | 1.771 | 1.986 |
About XRP
About the author
