Ripple (XRP) has experienced a significant 177% price rally over the past 30 days, largely driven by bullish factors. However, recent data suggest that this momentum has stalled, with sellers overtaking buyer pressure.
The Taker Buy/Sell Ratio, as reported by CryptoQuant, has declined to 0.93, indicating increased seller dominance in the XRP market. This scenario is akin to traders reaping profits on long positions, thus exerting downward pressure on the coin's price.
Additionally, Network Growth metrics indicate waning new participant interest in XRP, further suggesting seller control. As network growth decreases, so does market adoption, creating potential for further price declines.
The MACD, a technical oscillator, has turned negative, pointing to bearish momentum. Present conditions imply that XRP's price may fall to $0.92 unless buying sentiment shifts and price action rebounds to $1.63.
Источник: beincrypto.com ↗