Current analysis for XRP Coin shows that capital outflows are increasing and this strengthens the downward trend. The MACD indicator also gives signals in favor of the bears and therefore it seems likely that prices will fall. While $0.52 has been determined as the downward target, it is stated that $0.58 should become support for the uptrend.
On Sunday, cryptocurrency markets did not provide much profit for investors and volumes remained low. Bitcoin (BTC) is moving in a narrow range and occasionally exceeding $ 60,000, but experiencing sharp declines. This situation indicates that volatility may increase again in the coming hours. Expectations about the future performance of XRP Coin are as follows:
XRP Coin Comment$XRP
Mondays usually mean a downtrend for BTC, but considering the huge losses it has experienced in recent weeks, it is possible that BTC will try the opposite direction. The current BTC price is at $59,800 and $63,000 needs to become support again for the expected rise in altcoins to begin. The weak volumes and the formation of long upper wicks above $60,000 indicate that the bullish expectation is weak.
This leaves many altcoin investors in a difficult position as investors try to profit from short-term fluctuations. While BTC is rising, assets that fail to recover as expected may experience further losses.
The situation for XRP Coin does not seem to be much different. Despite the large-scale victory over the SEC, XRP Coin is still trading at $0.57. While the normalization level before the legal victory was around $0.42, it is possible to say that the current price is relatively good compared to that period.
XRP Coin Price Prediction
The change in investor sentiment is also reflected in the data of the Chaikin Money Flow (CMF) indicator. The CMF confirms the capital outflow, indicating that downward pressure is strengthening. While investors are returning to cash by selling, the decrease in the number of buyers causes the CMF to signal a capital outflow, which is considered a clear bearish signal.
If the trend continues, new lows may form due to CMF. The MACD indicator is giving signals supporting the bears, and the heavy rises and weakening momentum show that the bulls are under pressure.
If the recovery fails, the XRP price may continue to consolidate below $0.58 and further sell-offs to $0.52 are possible. On the other hand, if there are closes above $0.58, the bearish expectations may be invalidated and an upward movement targeting $0.73 may begin.
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