XRP price has struggled to regain its bullish momentum over the past four weeks, with altcoins not seeing any noticeable movement. As a result, the profitability of many keyholders has declined, putting further downward pressure on cryptocurrencies.
The recent price stagnation has investors concerned about XRP’s future trajectory, especially with bearish indicators emerging.
XRP investors are disappointed
XRP’s MVRV long/short differential has recently fallen into negative territory following a correction over the past three days. A positive MVRV indicates that long-term holders (LTH) are more profitable, while a negative value indicates that short-term holders (STH) are more profitable. Currently, MVRV remains at -0.08%, and both LTH and STH are at similar levels, reflecting the market downturn.
The fact that neither group has made significant gains highlights the continued uncertainty surrounding XRP. This equilibrium suggests that XRP lacks the momentum needed to break out of the current range and is susceptible to further corrections if broader market conditions deteriorate.
Read more: XRP ETF explained: What it is and how it works
XRP MVRV long/short difference. Source: Santiment
From a technical perspective, XRP’s macro momentum is showing signs of weakening. The exponential moving average (EMA) of a cryptocurrency is forming a death cross, which is a bearish signal that occurs when the short-term EMA falls below the long-term EMA.
Historically, these death crosses when markets are weak tend to last for a short period of time, and this may be the case for XRP today. However, if the broader market crashes, the death cross could persist and the negative impact on XRP price could extend over time.
XRP death cross. Source: TradingView
XRP price prediction: integration remains intact
XRP price is currently hovering above the 38.2% Fibonacci retracement line at $0.52, which is acting as a key support level for the altcoin. This level is likely to remain strong support in the near term and will act as an important area of defense for investors looking to hold their positions.
Additionally, XRP is facing resistance at $0.55, which coincides with the 50% Fibonacci line. This combination of support and resistance formed a consolidation range for XRP. Given the ongoing technical and market conditions, this consolidation is expected to remain in place for the next few days, and it is unlikely that XRP will break out of this range without a major external catalyst. is.
Read more: Ripple (XRP) Price Prediction 2024/2025/2030
XRP price analysis. Source: TradingView
However, if the death cross leads to further downward pressure, XRP could lose support at $0.52. This could invalidate the current bearish-neutral outlook and trigger a decline to $0.47, a level that suggests a deeper correction is underway.
Disclaimer
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