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This is how the Ripple (XRP) price is preparing for an 18% correction

Ripple (XRP) price is looking for a possible pullback on the daily chart after failing to breach a key resistance level.

The lack of recovery will likely prompt investors to sell, which could worsen the decline and make recovery more difficult.

Ripple investors take a step back

With a decrease XRP Price at $0.42, sparking pessimism among many token holders, which is reflected in their behavior. The daily active address divergence (DAA) in price is currently sending a sell signal.

This happens when prices rise and participation falls, or when both factors are negative. XRP is witnessing the latter situation, which suggests that XRP holders will likely sell their assets before accumulating further losses.

DAA Price Ripple Divergence.
DAA Price Ripple Divergence. Source: Feeling

The feeling of self-rescue also extends to potential investors. This is evident in the network's growth metrics, which are currently at a four-year low. Network growth is measured by the rate at which new addresses are formed on the network.

It is used to assess the traction of the project in the market and whether it is losing or winning. It is clear that Ripple is losing its appeal as potential investors notice that there is no advantage to transacting with XRP.

Cascading network growth.
Cascading network growth. Source: Feeling

Therefore, the price of XRP could bear the brunt of a downward slide.

XRP Price Prediction: It is essential to stay above this level

XRP trading price at $0.51 is right at the 23.6% Fibonacci retracement of $0.73 and $0.42. This Fibonacci level is also known as the bear market support floor. The reason is that as long as this support is not broken, the crypto asset still has a chance of seeing a recovery.

However, given the decline observed among investors, it seems likely that XRP price falls thanks to this support. This will cause the altcoin to decline to test the $0.47 support, which would represent an 18% decline when the Ripple token hits the $0.42 support.

XRP/USDT 1-day chart.
XRP/USDT 1-day chart. Source: Commercial view

Read more: XRP (XRP) Price Predictions for 2024, 2025, 2026, 2027

However, if XRP price can bounce off the 23.6% Fibonacci line and reclaim the 38.2% Fibonacci line at $0.57 as support, the bearish thesis could be invalidated. This would allow the altcoin to rise by $0.60 and recoup its recent losses.

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