XRPpricerecentlystruggledtoregainbullishmomentum,withthealtcoindecliningsincethestartofOctober.Initiallytradingwellabove$0.60,thealtcoinhasnowdippedto$0.51,raisingconcernsamonginvestors.
Thisdropindicatesapotentialcontinuationofbearishsentiment,leavingmarketparticipantscautiousaboutXRP’snear-termoutlook.
RippleInvestorsPanic
TherecentdeclineinXRP’spricecanlargelybeattributedtolong-termholders(LTHs)whoreactedwithuncertaintyastheassetlostground.Thespikein“ageconsumed”datarevealsthattheseLTHsbeganmovingtheirholdingsimmediatelyfollowingthepricedrop.Thisindicatesalevelofpanicamongseasonedinvestors,suggestingtheywereconcernedaboutrisks.
Thispanic-drivenmovementamongLTHshighlightsthefragilesentimentwithinXRP’sinvestorcommunity.Withexperiencedholdersshowingsignsofhesitation,XRP’smarketappearstobeinadelicateposition.ThelackofconfidenceamongLTHsmaycreateadditionalsellingpressure,potentiallyexacerbatingthedownwardtrendifsentimentdoesnotstabilize.
XRPAgeConsumed.Source:Santiment
Intermsofmacromomentum,XRP’snetworkgrowthinitiallysawaboostasitspricebegantodecline,suggestingthatnewinvestorswereeagertoenterthemarketatlowerlevels.However,asXRP’spricecorrectiondeepened,thisinitialoptimismwaned.Networkgrowthhassincedeclined,reflectingareductioninnewaddressesjoiningtheXRPnetwork.
ThedeclineinnetworkgrowthindicatesthatXRPmaybelosingtraction.Whilenewaddressesinitiallysurgedinresponsetolowerprices,thecontinueddropinXRP’svaluehastemperedenthusiasmamongpotentialbuyers.
XRPNetworkGrowth.Source:Santiment
XRPPricePrediction:PavingItsWay
XRPfellby5.6%onFridayandisworkingtoreclaim$0.52asasupportlevel.Thislevelalignswiththe38.2%FibonacciRetracementline,makingitacrucialmarkerforanypotentialupwardmovement.Securingthissupportcouldpavethewayforarisetowardthe$0.55resistance,offeringXRPachancetostabilize.
Currently,XRPisholdingabovethe23.6%Fibonaccilineat$0.47,oftenseenasthebearmarketsupportfloor.Thislevelprovidesafoundationthatcouldpreventafurtherdrawdown,helpingXRPavoidmoresignificantlossesifmarketconditionsremainstable.
XRPPriceAnalysis.Source:TradingView
However,thelackofstrong,bullishsignalspresentsachallengeforXRP’srecovery.IfXRPmanagestoflip$0.52intosupport,itcouldrallybackto$0.55,counteringthebearish-neutraloutlook.
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