XRP Price Plummets 20% to $1.53 Amid Market Turmoil
- Price Plunge: XRP's price has dropped 20.7% over the past week to $1.53, marking its lowest level since November 2024, reflecting a growing aversion to risk assets that may further undermine investor confidence.
- Liquidation Cascade: Over $528 million in long positions were liquidated in the past 24 hours, including approximately $6.65 million in XRP longs, indicating significant losses for highly leveraged traders that could exacerbate downward pressure on the market.
- DeFi Struggles: The XRP Ledger is underperforming in the decentralized finance sector with only 19 protocols and a total value locked of $54.6 million, down 32% from early January, suggesting declining user engagement and capital commitment that may further suppress prices.
- Dwindling ETF Demand: Spot inflows into XRP ETFs launched last November have sharply declined, with only $15.59 million in net inflows recorded in January, a stark contrast to $666 million and $500 million in November and December, indicating waning institutional demand for crypto-backed products and reducing liquidity support for XRP.
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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 5 technical signals, shows that 1 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 | 0.46 | 0.789 | 1.156 | 1.485 | 1.852 | 2.181 | 2.548 |
| Fibonacci | 0.789 | 1.055 | 1.219 | 1.485 | 1.751 | 1.915 | 2.181 |
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