There is nothing positive in the XRP price chart other than the price approaching its lowest levels. For example, the Relative Strength Index - which is colored purple - appears ready to rise again after reaching a value of 30 - which indicates an oversold zone - nearly a week ago.
Likewise, the 30-day moving average index - yellow - fell below its 200-day counterpart - blue - last week, and although it continues to decline, it is expected to rise again soon.
However, the green support level for XRP failed to prevent the price from falling to its recent lows, and the price may fall below $0.50 in the coming days. Also, currency trading volume is still low, at approximately $600 million, or 75% less than it was in the first two weeks of this year. A large portion of this trading volume appears to be due to whales and large traders sending their XRP tokens to exchanges to sell. Therefore, traders should expect the price of XRP to decline slightly before it recovers again.
However, there are strong expectations for a definite recovery of the currency price sooner or later
Of course, traders should be careful when looking at these “predictions,” but considering that the price of XRP has fallen significantly in recent weeks, it is certain to recover strongly in the coming months, and this will be helped by Ripple’s settlement with the SEC. And exchanges, in addition to the general upward trend in the market supported by the volumes of Bitcoin ETFs and the upcoming Bitcoin halving.
