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Ripple (XRP) Price Prediction: Drop Likely as Sell Signal Intensifies

Despite the continued rise, Ripple (XRP) price remains vulnerable to declines given declining broader market signals and bearish participation.

This could prevent XRP from breaching a crucial level, which as a support level could trigger a rally.

Ripple XRP investors withdraw

There is likely to be a price XRP The negative effects relate to investors taking a step back, as engagement has taken a hit. The total number of investors transacting on the network increased from an average of 25,120 to 18,760 in one month.

Active addresses highlight demand for the asset as more transactions on the network create liquidity. High liquidity leads to increased participation, which helps... High Price Action .

Active XRP addresses.
Active XRP addresses. Source: Feeling

However, due to the drop in XRP price and stake, a sell signal can be seen flashing. This can cause further damage to the altcoin.

At the same time, a decline in bullishness was also seen in broader market signals. The Relative Strength Index (RSI), which had moved into bullish territory, returned below the neutral line at 50.0.

Learn more: Latest developments in the Ripple Corporation v. Securities Commission case

XRPRSI. Source: Commercial view

The Relative Strength Index measures the speed and magnitude of price changes, which helps detect overbought or oversold conditions. Since Ripple is struggling to test the neutral line as support, the result is bearish.

XRP Price Prediction: Will the Uptrend End?

XRP price on the daily time frame is observing an upward trend that started a month ago. Slowly, the uptrend has taken XRP above $0.50, which is crucial support. The alternative is now approaching a breakout and reversal of the 23.6% Fibonacci retracement towards support.

However, given the intense bearish signals, this breakout could fail and XRP price could fall to the uptrend line. Therefore, the altcoin may refuse to retest $0.47 as support.

Read more: Ripple (XRP) Price Forecast 2024/2025/2030

XRP price analysis.
XRP price analysis. Source: Commercial view

On the other hand, if the altcoin swings the 23.6% Fibonacci retracement towards support, it could indicate a recovery. This level is recognized as a bear market support floor, and securing it prevents further decline.

A breakout of $0.55 could send the price of XRP higher, thus invalidating the bearish thesis.

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