XRP Price Faces Increased Downward Risk Amid Weak Network Activity
- Downward Price Trend: XRP has dropped over 40% since early January, now at risk of falling below $1, indicating significant weakness in network activity that could trigger further market sell-offs.
- Market Capitalization Decline: XRP's market cap has shrunk from $145 billion to approximately $85.5 billion, reflecting a diminished risk appetite for crypto assets as the total market cap has fallen nearly 50% from last year's peak.
- Decreasing Demand: Data from DeFiLlama shows that the total value locked on the XRP Ledger network plummeted from $80.5 million to $48.5 million, with weekly chain revenue dropping to a third of last September's levels, indicating a clear decline in demand.
- Stalled ETF Inflows: Since the start of the year, spot XRP ETFs have recorded only $39 million in net inflows, significantly lower than the $200 million seen during the launch phase, with the lack of institutional support removing a crucial price stabilizing factor during bearish markets.
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 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 | 0.632 | 0.875 | 1.149 | 1.391 | 1.666 | 1.908 | 2.182 |
| Fibonacci | 0.875 | 1.072 | 1.194 | 1.391 | 1.589 | 1.711 | 1.908 |
About XRP
About the author
