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Is blaming blaming?

XRP has witnessed a slowdown in the upscale momentum, after a period of continuous price growth. Altcoin, who benefited from the strong investor’s interest, began to lose some of the upscale momentum.

Despite the low price, some market experts believe that the power of investor support may prevent XRP from experimenting with great losses in the short term.

XRP loses bitcoin support

The relationship between XRP and Bitcoin decreased significantly, decreased to 0.4. This represents the lowest level since February of this year.

Historically, when this association weakens, the XRP price has seen a significant decrease, decreased by 22 %. However, then the decline, restore the original.

With Bitcoin recently reaching the highest new level (ATH), the declining link can be considered a sign of weakening the support for XRP.

The performance of strong Bitcoin can usually raise Altcoins, including XRP. However, this separation raises fears that XRP may not be able to benefit from Bitcoin’s success. As the link continues to decline, XRP may face more challenges in the coming weeks.

XRP association with Bitcoin. source: Tradingvief

Unlike the weak association with Bitcoin, the behavior of the XRP investor shows a more stable trend. The total total of XRP, which has not been touched for 3-6 months, has increased steadily this month.

This indicates that short -term holders (STH) ripen and become in the middle of the period. This transformation is a positive sign, as it indicates an increased stability and confidence between XRP investors.

The growing offer from the sleeping XRP indicates that more investors hold their symbols instead of selling them. This long -term reservation behavior can provide a temporary store for short -term fluctuations and helps maintain the value of the original at times of uncertainty.

XRP MTH offer
XRP MTH offer. source; Glassnode

XRP price can bounce

XRP is currently trading at $ 2.26, after declining to less than the support level of $ 2.27 over the past 24 hours. The price has been a fixed decrease over the past two weeks, due to the inability to break the resistance of $ 2.58.

This indicates that the bullish momentum is suspended, and the price may continue to face the declining pressure.

If this decrease continues, XRP may test the next support level at $ 2.12, which represents a great loss for investors. Additional decreases can increase the declining feeling and increase the pressure pressure.

XRP price analysis.
XRP price analysis. source: Tradingvief

However, if the investor’s support strengthens and proves the price, XRP can retain the support level of $ 2.27. This would allow a possible reversal to $ 2.38 or even higher, which nullifies the current downward view.

This support can pave the way for a new attempt to violate the resistance of $ 2.58 and possibly pay the price up.

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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