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XRP faces obstacles in market momentum, amid constant losses

XRP remained in a unification stage in the past two weeks, which prevents it from creating the highest new level ever (ATH).

While Altcoin continues to stick to the main support level, it is struggling in order to get the momentum for penetration. A transformation in the investor’s behavior can change this path.

XRP investors face losses

The XRP transactions are largely dominant. Also, ATH is still new, investors began to move their property. This trend has led to the confrontation of many XRP holders losses in their transactions during the past two weeks, which generally affects market confidence.

If this pattern continues, traders may start retreating from the participation, which reduces the activity of treatment. The decrease in participation in the chain can negatively affect the price of XRP, which increases the risk of extending unification or a possible decrease less than the main support levels.

The size of the XRP treatment in the loss. source: Santim

The long/short MVRV difference indicates that LTHS holders are still in profit, and they benefit from the latest procedures of the price from XRP. These investors have not yet moved towards the sale, which indicates resilience despite the fluctuations in the short term. The continued detention is very important to maintain stability.

If LTHS maintains its positions, it is unlikely to test the XRP price sharply correction. This behavior indicates confidence in the capabilities of the original in the long run. It also indicates that XRP can maintain its upper direction if the market conditions remain favorable.

XRP MVRV long/short
XRP MVRV long/short. source: Santim

Predicting at XRP price: the upward trend to the highest new level

XRP is currently witnessing the small rising trend after the support level is $ 2.95. While Altcoin decreased for a short period of time lower than this level during the lowest level of the day, he recovered quickly and stayed over the direction line. This strengthened momentum ascending.

The cryptocurrency is now less than 10 % of a new ATH formation exceeding $ 3.40. If the upward trend continues and the long -term bearers remain steadfast, XRP can bypass this resistance and set a new price record in the coming days.

XRP price analysis
XRP price analysis. source: Tradingvief

However, if XRP re -tested $ 2.95 and fails to get this support, the price may decrease more. A break below this level would increase the declining pressure. This may lead to pushing XRP to $ 2.73 or less, which nullifies the upscale thesis.

Disintegration

In line with the guidance of the confidence project, this price analysis article is for media purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and unbiased reporting, but market conditions are subject to change without notice. Always perform your research and consult with a professional before making any financial decisions. Please note that the terms, conditions, privacy policy have been updated and the evacuation of responsibility.

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