XRP Market Experiences Significant Slowdown Amid Volatility Gap
- Decline in Transaction Activity: The daily transaction volume on the XRP network has decreased by 20% over the past three months, dropping to 1.78 million, indicating a weakening of organic usage that could impact market activity and investor confidence.
- Weakness in Derivatives Market: Funding rates on Binance have fallen to -0.003, with total liquidation amounts decreasing by 99% to just a few thousand dollars per day, reflecting a significant reduction in leverage usage and the near disappearance of speculative activity in the market.
- Drop in Leverage Ratio: Binance's Estimated Leverage Ratio has declined from a six-month high of 0.260 to 0.173, and despite negative funding rates, there has not been an aggressive accumulation of short positions, suggesting a waning interest in highly leveraged trades among investors.
- Uncertain Market Outlook: CryptoQuant notes that the XRP market has “completely exhausted its speculative fuel,” currently existing in a low-risk but low-liquidity structure, with the market awaiting macroeconomic developments or fundamental catalysts to determine its new direction.
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 Neutral technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 4 indicators are flashing buy, while 5 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 crypto.
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 | 1.147 | 1.251 | 1.34 | 1.445 | 1.534 | 1.639 | 1.728 |
| Fibonacci | 1.251 | 1.325 | 1.371 | 1.445 | 1.519 | 1.565 | 1.639 |
About XRP
About the author
