đ XRP Price Prediction â Time to Sell or Buy After 8% Drop? đ
Rippleâs XRP has seen consecutive declines since the beginning of April, with prices dropping from around $0.61 to $0.57.
âŹïž Price Declines: On April 1st, XRP dropped 2.84%, followed by a more significant decline of over 4% on the next day, pushing prices to $0.58. The trend continued with a 1.89% decline on April 3rd, lowering prices further to around $0.57.
đ Technical Indicators: The Relative Strength Index (RSI) fell below 40, indicating a bearish trend. The Moving Average Convergence Divergence (MACD) also confirmed the bearish sentiment.
đ Volume and Decline: Daily volume analysis shows a decline from over $2.1 billion to approximately $1.5 billion, suggesting reduced trading activity affecting price movements.
đ Market Performance: XRP posted the highest decline among the top seven assets over the past week, down by 7.4%. Its market capitalization is around $31 billion, making it the seventh-largest asset by market cap.
đ Buyer Optimism: Despite the decline, Open Interest (OI) remains high around $900 million, and the funding rate remains positive, indicating buyer optimism and bets on a future price increase.
đ Current Trend: While a slight recovery is noted, XRP continues to trade within the $0.57 range, with buyers hopeful of a turnaround in price.