XRP reserves are rising - is a price crash coming? The XRP long/short ratio stood at 0.955 at the time of publication, indicating a bearish market sentiment.
If #XRP closes the daily candle below $0.545, the price may fall to $BTC XRP dynamics on the #blockchain are giving bearish signals amid a price correction in the #cryptocurrency market: since September 14, the #token has been in the consolidation zone between $0.558 and $0.598. This is because whales and institutions are transferring their holdings to the exchange as potential pre-sellers, thereby indicating an increase in exchange reserves. Despite the increase in exchange reserves, the price of XRP remains unchanged. At the time of publication, it was trading at around USD 0.586, a slight decrease of 0.45% over the past 24 hours.
Meanwhile, XRP trading volume fell by 4.8% over the same period, indicating a decrease in trader activity.
According to AMBCrypto's technical analysis, XRP is trading above its 200 exponential moving average (EMA) on a daily basis, indicating an uptrend.
The 200 EMA is a technical indicator used by traders and investors to determine whether an asset is in an uptrend or downtrend. Given the recent increase in XRP's exchange reserves, it is important to understand whether the token will rise or fall in the coming days.
Based on the price movement, if XRP breaks out of the consolidation zone and closes the daily candle above $0.60, it will likely rise to $0.72. However, if it breaks out of the consolidation zone and closes the candle below $ 0.545, it could fall to $ 0.464.
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