Over the past 24 hours, XRP/USDT has shown a bearish trend, with the price dropping by 1.22% to $0.4699.
Trading data reveals that XRP has experienced significant selling pressure, with large and medium sell orders dominating the market. The total volume for the day indicates a substantial movement, showing a strong decline in large inflows, totaling -50,778,666.00 in the last 5 days. This highlights a bearish sentiment among traders, causing an overall net outflow of funds from XRP.
The money flow analysis for the day shows that despite notable buy orders worth 56,664,388.00 XRP, sell orders significantly outweighed them, resulting in a net outflow of -23,029,890.00 XRP. This indicates a cautious stance from investors, likely driven by broader market trends and sentiment.
Given these dynamics, it’s crucial for traders to closely monitor the support levels around the $0.45 mark and keep an eye on broader market movements that could impact XRP’s price action in the short term.
I would advise a cautious approach when investing in XRP coin. Always do your own research and consider the risks involved before making any investment decisions.
