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The price of XRP has now returned to the territory of Bearish after an unusual run on the daily table, which signaled a possible stubborn rush. Ananda’s master of cryptographic analyst indicates this in post This shows a disturbing trend in the XRP price chart. If this is continued, then The future of XRPAt least in a miniature period, he became even more uncertain, and the bears are fighting for greater control.
4 Green daily closes for nothing
After the accident along with the rest of the cryptocurrency market, the XRP price stood in the face of recovery, which seemed back on a regular basis. This contributed to the first green daily closure of the last day of May, and then continued to the modern month of June. The first three days also closed green, which leads to four subsequent daily green closures, which is usually stubborn at this price.
However, there was another part of the trend that was not completed to show that it was a stubborn move and is related to the volume. As Master Ananda noted, a A volume raise was expected Because the price of XRP brings a higher low low temperature. This would mean that a rush was needed to exceed the price. But this was not the case, because the volume fell and remained muted.
The lack of this expected volume suggests the weakness of the XRP price, and this took place when the next day saw red near Altcoin for the first time in June. If this lack of momentum persists, the price may still fall violently.
Until now, there is now a resistance installation of 0.382 Fibonacci, which is USD 2,2959. This resistance would have to be cleaned with a volume jump if it is recovered at the price of XRP. Otherwise, he risks the drop back to 0.236 Fibonacci, which means that the first steps towards a inheritance below USD 2.
The price of XRP may fall as the volumes suffer
Data from Coumingss can be seen How bad the volume of XRP was recently. Until now, in June, the daily volume remained well below $ 5 billion, reminiscent of bear data every time the price has dropped. This also shows a reduction in the participation of investors who are afraid of entering the market in such conditions.
Interestingly, the open interest remain rather high, $ 3.94 billion, showing it Cryptographic traders actively bet on the price of XRP. However, most bet that the price of XRP will fall from here, and the Coumingss data has shown that 52.75% of all items are miniature compared to only 47.25% of plants will raise.
A distinguished picture from Dall.e, chart from tradingview.com
