Will XRP Price Rebound to $3 or Drop Below $2?
Ripple (XRP) price has surged more than 330% in the past 30 days, surpassing Solana’s market capitalization and reaching its highest level in 6 years. However, its relative strength index The current price of XRP is 46, which is significantly lower than the overbought level of over 70 between November 29 and December 3, when XRP peaked at around $2.90, its highest level since 2018.
This decline indicates that bullish momentum has cooled and market sentiment is now neutral or slightly bearish. As such, XRP may face a period of consolidation or mild downward pressure before a potential recovery occurs.
XRP RSI turns neutral after spending several days above 70
Ripple The RSI is currently at 46, down significantly from overbought levels above 70 between November 29 and December 3, when prices peaked at around $2.9, the highest level since 2018.
The decline in the RSI suggests that the recent bullish momentum has cooled and the market may now be in a neutral or slightly bearish phase.
RSI, or Relative Strength Index, is a momentum oscillator that measures the speed and change of price movements. It ranges from 0 to 100, with values above 70 generally indicating overbought conditions, while values below 30 indicate oversold conditions.
XRP’s RSI is 46, indicating that the asset is neither overbought nor oversold, indicating neutral market sentiment. If this trend continues, corrugated price A potential recovery may be preceded by a period of consolidation or mild downward pressure.
Ripple CMF is now around 0
XRP’s CMF is currently -0.01, having briefly been positive at 0.04 a few hours ago. After remaining positive between November 29 and December 5, the indicator reached a negative peak of -0.25 on December 6.
This shift in CMF suggests Ripple What’s next remains uncertain and the asset is struggling to maintain its upward momentum.
CMF, or Chaikin Fund Flow, measures the accumulation and distribution of assets over a specific period, taking into account both price and volume. It ranges from -1 to +1, with values above 0 indicating accumulation (buying pressure) and values below 0 indicating distributions (selling pressure).
The current CMF of -0.01 indicates weak selling pressure, indicating that although there are attempts to reverse the downward trend, they are not strong enough to maintain the positive momentum. If this trend continues, it could signal further downward pressure Ripple price In the short term.
XRP Price Prediction: Can Ripple Fall Below $2?
ripple The EMA line remains bullish, with the short-term line above the long-term line, indicating an overall upward trend.
However, the current price is below the shortest line, indicating that the trend may be turning and the bullish momentum may be waning.
If a strong downtrend occurs, Ripple price A test of support at $2.16 is likely, and failure to hold this level could lead to a drop to $1.63, which could mark a 32% retracement.
On the other hand, if corrugated price After surging more than 330% over the past 30 days, the U.S. dollar is regaining upward momentum and could retest $2.90 and potentially rise to $3, its highest level since January 7, 2018.
Disclaimer
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