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Bullish
Ripple bulls fall: Profit-taking counters recent surge
At $2.66, ripple price action hits resistance, indicating a fall.
On-chain data demonstrates that XRP holders benefit following a huge spike, boosting selling pressure.
A daily candlestick above $3 would disprove bearishness.
On Monday, Ripple (XRP) trades about $2.47 after gaining over 13% the week before. After a big gain, XRP investors realize profits, boosting selling pressure and predicting a short-term fall.
XRP owners selling bags
From November to December, Ripple price increased almost fourfold. Post-rally profit-taking is another short-term concern for Ripple. Holders should book gains at the peak, according to Santiment's NPL indicator. XRP's NPL index increased on December 1, suggesting holders are selling their bags for a profit. After gaining in April 2021, a similar increase on May 1 caused a 35% drop in two weeks. If history repeats, XRP may decline short-term.
Coinglass reports XRP's long-to-short ratio at 0.85, the lowest in a month. This ratio indicates adverse market sentiment since traders expect the asset's price to decline, suggesting a Ripple price downturn.
Ripple Price Prediction: Exhausted bulls
Ripple faced resistance at $2.66 on Sunday. On Monday, it trades marginally lower at $2.47.
XRP might fall below $2.00, a psychologically key milestone, if $2.66 holds as resistance.
The daily chart's RSI is 70, lingering near the overbought level and pointing downwards, suggesting bullish momentum weakening. RSI exiting overbought zone might imply a retreat sell signal.
Daily XRP/USDT chart
XRP might continue the advance and retest its January 7, 2018 all-time high (ATH) of $3.40 if it breaks over $2.66 and closes above $3.
At $2.66, ripple price action hits resistance, indicating a fall.
On-chain data demonstrates that XRP holders benefit following a huge spike, boosting selling pressure.
A daily candlestick above $3 would disprove bearishness.
On Monday, Ripple (XRP) trades about $2.47 after gaining over 13% the week before. After a big gain, XRP investors realize profits, boosting selling pressure and predicting a short-term fall.
XRP owners selling bags
From November to December, Ripple price increased almost fourfold. Post-rally profit-taking is another short-term concern for Ripple. Holders should book gains at the peak, according to Santiment's NPL indicator. XRP's NPL index increased on December 1, suggesting holders are selling their bags for a profit. After gaining in April 2021, a similar increase on May 1 caused a 35% drop in two weeks. If history repeats, XRP may decline short-term.
Coinglass reports XRP's long-to-short ratio at 0.85, the lowest in a month. This ratio indicates adverse market sentiment since traders expect the asset's price to decline, suggesting a Ripple price downturn.
Ripple Price Prediction: Exhausted bulls
Ripple faced resistance at $2.66 on Sunday. On Monday, it trades marginally lower at $2.47.
XRP might fall below $2.00, a psychologically key milestone, if $2.66 holds as resistance.
The daily chart's RSI is 70, lingering near the overbought level and pointing downwards, suggesting bullish momentum weakening. RSI exiting overbought zone might imply a retreat sell signal.
Daily XRP/USDT chart
XRP might continue the advance and retest its January 7, 2018 all-time high (ATH) of $3.40 if it breaks over $2.66 and closes above $3.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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