XRP Price is Vulnerable to Further Correction Below $2 in February
XRP faces increasing sales pressure as bearish market conditions push Altcoin to monthly lows. Investors seeking a recovery may be disappointed, as Altcoin is still prone to further declines.
Market participation and weak negative tendencies indicate the possibility of additional losses in the short term.
XRP investors are skeptical
this Price Daily Activity Address (DAA) Difference Indicator Selling signals are currently flashing. This bearish signal stems from a combination of price declines and investor participation declines.
With fewer active addresses interacting with the network, purchasing momentum seems to be weakening, making XRP is susceptible to continued downward movement.
As the lottery continues, investors are taking a step back, further weakening the purchase interest. If this trend persists, it may accelerate the decline of XRP.
Relative Strength Index of XRP (RSI) fell to a three-month low, strengthening strong bearish momentum. RSI, which measures market strength, shows that sales pressure is increasing.
If this trend continues, XRP may soon enter the oversell zone, further limiting any chance of an immediate rebound.
The decline to oversold territory usually indicates that the assets are undervalued, which sometimes triggers price recovery. However, XRP’s historical performance Indicates that long bearish conditions may prolong losses before any meaningful reversal.
XRP Price Forecast: Bounce is Key
XRP is currently trading $2.37 is priced above its key support level of $2.33. Cryptocurrencies have been declining since the beginning of this month.
Despite temporary stability, bearish indicators indicate that XRP may be difficult to recover without a significant market momentum shift.
The continued downward trend indicates a possible further decline. If XRP loses $2.33 in support, the price may drop to $1.94, deepening investors’ losses. Breaks below this level will confirm extended bearish controls, making recovery more challenging in the near future.
However, bounce of $2.33 can be enabled XRP price needs to be recycled $2.70 resistor. If Altcoin successfully pours this level into support, this will invalidate the bearish outlook.
Such a move can restore investor confidence and open the door to potential recovery in the coming weeks.
Disclaimer
and Trust Project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and impartial reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions,,,,, Privacy Policyand Disclaimer Updated.
