Ripple (XRP) Price Prediction: $0.50 Recovery Continues.
The price of Ripple (XRP) may be exhausting the pessimism seen in the last few days.
In the future, XRP holders will mostly choose to hold their assets or try to start a buying process to prevent the fallout.
Ripple investors show patience
The price of XRP is expected to follow a bearish pattern and move to the downside. However, investors showed their resilience by choosing not to sell their holdings. The Net Realized Profit/Loss indicator shows that investors are seeing losses following the decline in prices.
Such occasions are often followed by hoarding or holding. This is because the loss rate is so high that investors prefer not to participate in the network rather than increase their losses.
Read more: Everything you need to know about Ripple vs SEC
This resilience is further confirmed by the Mean Coin Age (MCA) indicator. This indicator represents the average age of all coins in the cryptocurrency network. It provides insight into the activity level of the network and the potential of market activities.
A trend in this indicator is a sign that investors are holding their assets, while a decline indicates that XRP is moving between addresses, that is, selling. This resistance causes investors to become bullish, pushing the price higher.
XRP Price Prediction: Beat the Bears
The decline in XRP price was part of the bearish effect of the descending triangle pattern. A 25% correction could be in the pattern, which would have sent the Ripple token to $0.42. However, the altcoin stopped its decline at $0.47.
Trading at $0.48 at the time of writing, the altcoin is now 13% above the expected bearish target. On the other hand, the price of XRP is only 13% away from regaining the critical support of $0.60.
Taking into account the above factors, the result is very exaggerated, the price of XRP increased by 13%, which helps to recover $ 0.60, which can push it further.
Read more: Ripple (XRP) Price Prediction 2024/2025/2030
However, if the $0.47 support is lost, a 13% decline will be recorded, confirming the bullish thesis of a bearish and descending triangle.
Disclaimer
In accordance with Trust Project guidelines, this price analysis article is for informational purposes only and should not be construed as financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always do your own research and consult with a professional before making any financial decisions. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
