XRP Price Retraces but Stablecoin Supply Surpasses $400 Million
- Price Retracement: XRP's price has dropped nearly 15% over four consecutive days, falling from a high of $2.4153 on January 6 to $2.09, indicating a loss of momentum in the recent market rally that may affect investor confidence.
- Stablecoin Supply Growth: The supply of stablecoins on the XRP Ledger has surged by 33% in the past week, surpassing $400 million, significantly up from $93 million during the same period last year, highlighting Ripple's growing influence in the payment industry.
- Strong Performance of Ripple USD: The supply of Ripple USD has increased by 42% in the last 30 days to $332 million, making it one of the largest stablecoins in the XRP ecosystem and contributing to the overall expansion of the stablecoin market.
- Investor Demand Recovery: American investors purchased over $8.7 million in XRP ETFs on Thursday, recovering from a $40 million asset drop the previous day, with total inflows reaching $1.21 billion, indicating sustained interest in XRP despite recent price fluctuations.
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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 | 1.454 | 1.792 | 2.092 | 2.429 |
| Fibonacci | 0.817 | 1.061 | 1.211 | 1.454 | 1.698 | 1.848 | 2.092 |
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