#CryptoMarketMoves #BinanceBlockchainWeek $XRP #pepe⚡ #bitcoin☀️ #BlackRockETHOptions

Ripple price is poised for a decline as on chain metrics show a negative trend

ripple price retests and fails to overcome the daily resistance level at $0.626, leaning towards a price decline ahead.

ok chain data paints a bearish picture for $XRP , with negative OI - weighted funding rates and long to short ratio below one.

a daily candlestick close above $0.626 would invalidate the bearish thesis .

$XRP retested and was rejected by its daily resistance level at $0.626 on Saturday.it declined 4.23% in the next two days.on Tuesday ,it trends slightly up by 1% to $0.593.

if the ripple price continues to retrace ,it could decline 8% from its current trading level at $0.593 to retest its daily support at $0.544.

the relative strength index RSI and the awesome oscillator (AO) indicates on the daily chart trades just above their neutral levels of 50 and zero, respectively.both indicators must trade below their neutral levels for the bearish momentum to be sustained.