Dziennik XRP (XRP) registered the lowest near 99 days on March 10. Altcoin fell below the level of support of 2 USD, but registered a compact -term recovery of 12% on March 11.

On charts of the highest time frames (HTF) XRP must persist above its psychological level for $ 2, but other indicators suggest that deeper payments are possible.

XRP markets are missing buyers as Flip Flip Barish

The XRP price has currently dropped by 37.1% compared to the highest level of USD 3.40. When prices fell by a similar percentage of February 3, spot offers quickly absorbed sales pressure, exceeding XRP above USD 2.50.

However, the place and eternal XRP markets were relatively bear over the past week. Data from ag.trade Indicates that the cumulative volume of XRP Delta (CVD) fell by 50%in March.

Negative CVD means that there is a larger sales volume than the purchase. The current CVD value is -408 million USD, which reduces demand, and sellers take control.

Similarly, Futures traders also change bears, and the eternal CVD will drop to -1.18 billion on March 11. financing rate It has also become much negative, which indicates that more compact items have been added over the past few days.

XRP whales are still selling madness

The XRP volume bubble map showed an boost in activity at the end of February. Ki-Youthful Ju, the founder of Cryptochan, noticed that this boost was equalized with the ongoing distribution phase for XRP.

The distribution refers to the period in the market cycle, in which gigantic investors slowly unload their positions to secure profits, usually happens near the top of the trend up.

Related: Why is the XRP price reduced today?

Current data reveals that the distribution phase has intensified in the last seven days. In particular, a whale outflow, measured as a 30-day movable average, grew constantly.

This boost suggests that gigantic owners continued to unload their XRP positions, additionally directing the distribution trend.

Between March 4 and March 10, these gigantic XRP owners unloaded About $ 838 million in positions. This significant sale reflects the continuous bear tendency for XRP.

XRP Price Pattern H&S Tips for $ 1.60

On March 11, the 1-day XRP chart was closed below USD 2.05, which is a critical neckline of the daily head and shoulder pattern. This pattern has potentially sturdy bear consequences when it is observed on a good chart (HTF).

Lower prices are likely if XRP does not recover USD 2.05 as support, as shown in the graph above.

The direct target zone for the XRP price remains from 0.5 to 0.618 Fibonacci retact line. Also known as the “Golden Zone”, the re -range is from 1.90 to 1.60 USD. The probability of mastery of 0.618 fibonacci or USD 1.60 is high in the current bear environment.

Failure to comply with this range may lead to a re -test of long -term demand zone from 1.58 to USD 1.27.

This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.