Confidence in XRP is Decreasing: Selling Pressure is Increasing, Price is Facing Downward Risk

XRP investors' confidence seems to have weakened in recent days. The altcoin has lost about 3% of its value in the last three trading days, affected by the negative atmosphere in the market. This decline indicates that investors are risk-averse and that short-term expectations for XRP have weakened.

BBTrend Indicator Confirms Downward Momentum

On the technical analysis front, the BBTrend indicator indicates that selling pressure is increasingly strengthening. The indicator has declined to -3.81 with consecutive growing red histogram bars since June 7. This shows that XRP is trading below its moving average and that volatility has increased in a downward direction.

BBTrend measures the direction and strength of price trends based on the width of the Bollinger Bands. The growth of red bars indicates strong downward momentum, signaling that the downtrend may continue.

Bears Are Ahead in the Futures Market

The Long/Short Ratio of XRP also confirms that market sentiment is moving downward. Currently, the ratio at 0.92 shows that short positions outweigh long positions. This indicates that many investors are trading with the expectation of further declines in the XRP price.

The ratio staying below 1 indicates that bearish expectations dominate the market and that confidence in a short-term recovery remains weak.

Price Under Pressure: Support and Resistance Levels

XRP is currently trading at the level of $2.24. If selling pressure continues, the price may test the support level at $2.08. If this level breaks, XRP could face deeper losses.

However, if market conditions recover and buyer interest increases, XRP could make a rise toward the resistance at $2.29. If this level is surpassed, the altcoin has the potential to climb up to $2.45.


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