5 Warning Signals Indicating XRP Price May Drop to $1
5 Sell Signals Indicate XRP Price Could Drop to $1 Let's explore the five sell signals suggesting that XRP price may fall to $1. Due to the weakness of BTC, the outlook for the cryptocurrency market may trigger a crash, even affecting XRP.
The sharp decline in XRP network activity and daily active addresses indicates that investors are losing interest in the remittance token. The decrease in investor activity may lead to significant adjustments.
The 365-day MVRV indicator suggests a large amount of unrealized profits, and if these holders attempt to realize their profits, it could trigger a crash. Over the past month, whales have been continuously selling off their holdings. Technical analysis shows that as XRP price hovers within a descending triangle, it may trigger a 31% drop.
The general weakness of the cryptocurrency market affects XRP price Bitcoin has dropped 15% from its historical high of $108,421, causing a collapse in the cryptocurrency market.
Top altcoins, including XRP, have surged significantly, but have given back most of their gains. Due to the high correlation between altcoins and Bitcoin, they tend to follow the path set by the leader. As BTC shows further signs of decline, XRP price will likely drop as well, potentially reaching the $1 level.
Decline in Daily Active Addresses and Network Growth When the network growth and daily active addresses decline, it indicates that both new and old investors are losing interest in the token at current price levels. This situation typically occurs after an uptrend, where both indicators decline, indicating a significant withdrawal by investors and suggesting that the price of Ripple may reverse to $1.
Ripple Long-term Holders' Huge
Unrealized Gains The 365-day MVRV for Ripple is 77%, indicating that investors who purchased XRP over the past year are averaging a 77% profit. During the annual peak, this figure was 200%.
Ripple Whales Selling XRP
From November 29 to December 28, whales holding 100,000 to 1,000,000 XRP sold 110 million tokens. This sell-off may be another reason for XRP's price drop of 32% from the annual high of $2.90. If this trend continues, XRP price may fall to $1.
