XRP price shows declining tendencies because the buyers lose strength and threaten further losses

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XRP-Marktanalyse: Käufer zeigen weiterhin Schwäche Der Markt für XRP, die Kryptowährung von Ripple, zeigt laut technischer Analyse eine rückläufige Marktstruktur. Die Käufer haben in den letzten Wochen keine ausreichende Akkumulation gezeigt, was darauf hinweist, dass weitere Verluste möglich sind. Seit Ende April wurde XRP in einer Unterstützungszone zwischen 0,45 und 0,47 US-Dollar gehandelt. Die Käufer haben verzweifelt versucht, diese Unterstützungszone zu verteidigen, jedoch scheinen die Bullen zunehmend müde zu werden. Dies zeigt sich in der immer schwächeren Reaktion, die XRP aus der Unterstützungszone zeigt. Auch die On-Chain-Kennzahlen von XRP deuten darauf hin, dass es den Käufern an Überzeugung fehlt. Es …
XRP market analysis: Buyers continue to show weakness The market for XRP, the cryptocurrency of Ripple, shows a declining market structure, according to technical analysis. The buyers have not shown sufficient accumulation in the past few weeks, which indicates that further losses are possible. Since the end of April, XRP has been traded in a support zone between $ 0.45 and $ 0.47. The buyers have desperately tried to defend this support zone, but the bulls seem to be increasingly tired. This can be seen in the ever weaker reaction that XRP shows from the support zone. The on-chain indicators of XRP also indicate that the buyers lack conviction. It ... (Symbolbild/KNAT)

XRP market analysis: Buyers continue to show weakness

The market for XRP, the cryptocurrency of Ripple, shows a declining market structure according to technical analysis. The buyers have not shown sufficient accumulation in the past few weeks, which indicates that further losses are possible.

Since the end of April, XRP has been traded in a support zone between $ 0.45 and $ 0.47. The buyers have desperately tried to defend this support zone, but the bulls seem to be increasingly tired. This can be seen in the ever weaker reaction that XRP shows from the support zone.

The ON-Chain indicators of XRP also indicate that the buyers lack conviction. There are no signs of a network -wide accumulation. The positive movement of Bitcoin may also slowly have a positive effect on XRP.

The 1-day prick from XRP shows that the market structure was still bullish in early June. However, the buyers could not withstand the waves of sales that started on June 5. This resulted in XRP fell to a higher low of $ 0.456 on June 16. Two weeks later, XRP formed a lower high of $ 0.449 and thus confirmed the bear structure and the dominance of the seller.

The range of $ 0.45 to $ 0.47 has been a significant support zone for XRP since April and will probably also play a role in the future. If this support of $ 0.45 is broken, this could lead to a further decline to $ 0.41.

The key figures of XRP show that the cryptocurrency is undervalued, but buyers are not yet ready to accumulate XRP. The 90-day MVRV ratio is negative, which indicates a slight undervaluation. However, the average age of the coin has been falling continuously since the end of May, which points to persistent sales.

It remains to be seen whether the market environment for XRP will improve in the coming weeks. In the meantime, traders should keep an eye on the support and resistance zones to make their trading decisions.

NOTE: The information contained in this article only serves information purposes and do not represent financial, investment, commercial or other advice. All opinions are that of the author. Investments in cryptocurrencies are associated with risks and should be thoroughly researched.