XRP Is Weekly Low As Market Tanks – Is The Bear Market Officially Beginning?
Author
Alejandro Ariche
Author
Alejandro Ariche
Share
XRP is down 4.3% in the last 24 hours, again slipping below the $2 critical support level as market-wide pressure mounts.
This breakdown could signal a bearish XRP price forecast, with bulls potentially on the verge of a cap.
Along with the selloff, long-term liquidity rose to $584 million, showing how many traders weren't blindsided by the new dip.
The market has been finding support at this key psychological price level for days, but buying interest has been weak and the bulls' efforts to defend this zone have failed to fuel the rally.
Trading volumes also doubled in the previous day, currently standing at $3.9 billion. This indicates strong selling pressure following this bearish breakout.
Despite the decline, XRP-linked exchange-traded funds (ETFs) have attracted positive returns for 21 consecutive days, reflecting interest from institutional buyers and long-term holders in the regulated markets.
XRP Price Prediction: A break below $1.86 could result in another 10% decline
Moving on to the charts, the 4-hour time frame shows that a break below the $2 level on strong volumes occurred yesterday.
This quickly triggered a sharp decline to the next support area at $1.86.
Bulls are now trying to protect this signal as a move below could lead to a drop to the token's October 10 low of $1.58. This translates into a 10% lower risk in the near term.
Notably, however, the Relative Strength Index (RSI) hit oversold levels at 21.5 in this lower timeframe. The last two times this has happened, the price has returned slightly.
However, a break below $1.86 means the market is poised to continue the downtrend.
As well-established tokens like XRP struggle to recover, investors may find better opportunities. In high crypto presales, as Maxi Doge ($MAXI).
Meme coin has raised more than 4 million dollars, many analysts compare it to the early days of Dogecoin.
Inspired by the viral Doge meme, Maxi Doge ($MAXI) is a bullish feature that embodies the power that comes with bull markets.
$MAXI owners get exclusive access to the Thought Hub, where they share trading setups, early opportunities and unique market insights.
$MAXI holders can showcase their skills to the community through fun contests like Maxi Ripped and Maxi Gains, demonstrating ROI to win attractive prizes and bragging rights.
Driven by Red Bulls and eager to leave Mother's Basement, like many ‘fans', this project embodies the “top only” culture that has made retailers famous in today's markets.
To participate, simply go to the official Maxi Doge website and connect your wallet (eg Best Wallet) to get started.
You can exchange USDT or ETH or use a traditional bank card to buy $MAXI tokens.
Visit the official Maxi Doge website here
Trending news, recommended popular crypto topics, price predictions
