XRP Price: Experts Highlight 3 Critical Drop Signals
Ripple (XRP) has fallen again after a brief rise it experienced recently. Ripple's acceptance of a $50 million settlement by withdrawing from the appeal in the SEC case created temporary excitement in the market. However, despite this development, there was no strong continuation rally in the XRP price, which declined to $2.47, raising questions.
Some analysts argue that this pause in XRP's price is temporary; however, technical analysis, chain data, and investor behavior indicate three critical signals that could suggest the end of this rally. Here are detailed analyses:
Weekly Chart: XRP is Stuck in Consolidation
The weekly price chart of XRP clearly shows that it has been stuck in a narrow range for the past few months. The band between $2.14 and $2.94 has not been broken for months. The inability to surpass these levels proves that buyers are not strong enough.
The RSI indicator is also signaling a downward trend. The decrease in buying pressure and the MACD histogram continuing to produce red bars indicate a loss of momentum. If the price falls below this consolidation range, even the psychological threshold of below 1 dollar could be tested.
Social Volume Is Fluctuating: Is It FOMO or Real Demand?
Santiment data shows that discussions about XRP on social media generally only increase with positive news. This suggests that investors are making short-term trades due to the FOMO effect.
