XRP Price Drops to $1.86, Facing Further Downside Risk
- Price Decline: XRP's price has dropped 2% in the past 24 hours to $1.86, reflecting a selloff in the broader crypto market that has turned its weekly performance negative, impacting investor confidence.
- Support Level Risk: Analyst Ali Martinez warns that if XRP loses the $1.77 support level, it could further decline to $0.80, indicating ongoing selling pressure that may lead to more investors pulling out.
- Decreased Active Addresses: The number of daily active addresses on the XRP blockchain has fallen to around 38,500, signaling fading participation and interest, which could affect the token's long-term value and market appeal.
- Whale Sell-Off: Large investors have sold over 40 million XRP tokens recently, exacerbating market selling pressure and reflecting a pessimistic outlook on XRP's future performance, potentially leading to further loss of investor confidence.
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Technical Analysis for XRP
Technical Sentiment Analysis for XRP (XRP) As of , XRP (XRP) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 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 | 0.517 | 0.817 | 1.154 | 1.455 | 1.792 | 2.092 | 2.429 |
| Fibonacci | 0.817 | 1.061 | 1.211 | 1.455 | 1.698 | 1.849 | 2.092 |
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