The cryptocurrency market is in a state of fear, and altcoins are recorded like Ripple (XRP) huge losses. The price of XRP decreased by more than 20 % this week alone. After this decline, the whales close their positions, after selling more than 90 meters XRP. With the frequency of whales in purchasing XRP declining, will the price of ripples decrease to $ 1.50 in the short term?
The XRP price faces downward pressure as whales sell 90 meters of distinctive symbols
The Ripple Today price is trading at $ 2.04 after a decrease of 10 % in 24 hours. In the past seven days, XRP threw nearly $ 40 billion in market value. Despite this sharp decrease in the price of XRP, the large addresses that usually buy a decline in sale, indicating an extended decline.
Data from Santiment shows that during the past 24 hours, it has sold titles ranging from 10 meters and 100 meters XRP 70 meters. In addition, the addresses containing 100 kilos to 1 meter XRP were gradually selling the distinctive symbol this week, and it reduced its location by 20 meters.
The frequency by whales to buy XRP DIP indicates that they do not expect prices to be recovered in the short term.
Will Ripple decrease to $ 1.50?
XRP has violated the lower trend line of its symmetrical parallel pusality because the collapse of the broader encryption market caused panic. These landmarks that indicate that the continuous declining trend may continue. This collapse also shows that the bears tighten its grip at the price of XRP, which may lead to a decrease in its support at $ 1.77. Violating this support may cause less than $ 1.50 to $ 1.39.
At the same time, the MACD index shows a strong landfill with a negative MACD line and red graph bars.
RSI RSI’s also reached the sales levels. Often, this refers to a recovery, but not to buy whales and market morale is dark, XRP may merge when prices drop before prices recovery.
However, even during the bear markets, some altcoins record short dilution marches. Will this be the case at Ripple?
Can the XRP price be recovered?
While expectations are still bleak, the XRP price has an opportunity to recover. Total factors such as progress in a SEC box against Ripple may reflect the direction. However, recovery depends on the low price to the demand area where buyers will be ready to accumulate.
analyst Viprosetr This support zone determines $ 1.25, as traders are likely to start buying again to support a strong upward reflection that exceeds $ 3 to the highest level ever at $ 4.22.
However, in order for XRP a strong direction from any support area, the broader market morale must turn into positive. Altcoin should also attract the attention of whales and big players.
Related questions (common questions)
The price of XRP can decrease to $ 1.50, as the declining momentum gains strength.
Ripple 90m XRP whale sold, indicating that it does not buy a decrease.
The XRP price can be recovered from the Habbudian trends if it returns to the support area that will increase the purchase activity.
Metouni
Muthoni Mary is an analyst and writer in the veteran encryption market that has more than three years of experience in dissecting Blockchain trends, price movements, and market dynamics. Through the acute eye of technical analysis and an in -depth understanding of the scales on the series, it provides insightful -based content that helps investors to move in the world of fast -paced digital assets.
Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.
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