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This article is also available in Spanish.
The price of XRP saw Augment in value at the weekend Because Bulls seemed to go back to the table. Because the market has been low in the last few months, investors do not surprise that they will take advantage of it as an opportunity to go out at a slightly higher price. This has led to more negative networks over the past few days, adding even more red to April, which was dominated by drains.
April XRP outflows exceed $ 300 million
According to data From Couminglass XRP fights negative network flows for most of April, registering more red days than green. Even the green days were quite muted and were not able to registered in red times. Only 13 days disappeared this month, over $ 300 million outflows have already been registered in a month.
Until now, only four out of 13 days ended with positive net flow, of up to $ 56.08 million inflow per month. However, the remaining nine days were dominated by outflows, which on Sunday amounted to $ 311 million.
This coherent outflow suggests that sellers still dominate the market, which explains why The price of XRP is still low All this time. In addition, if this negative net flow trend persists, the price of XRP may bear further failures.
However, compared to the last three months, April seems to register a slowdown when it comes to drains. For example, the months of January and March recorded $ 150 million of outflow days, while the highest in April amounted to $ 90 million, which took place on April 6.
Is one more immersion?
Although the XRP investors came back positive moods, still a lot of bears expectations, although mainly for brief -term. EGRAG Crypto cryptographic analyst, known XRP Bull, indicated that Altcoin will probably see the next price before recovering. Nevertheless, expectations for long -term are still extremely stubborn.
The cryptographic analyst emphasizes the possibility of a decrease in the price of XRP to USD 1.4, but explains that it still maintains its position. As for the high price, the analyst maintains three main prices: USD 7.50, USD 13 and 27 USD.
“For me, I follow the charts with a clear understanding that some events are developing, but I am up to date with messages to see what narratives are created to influence market movements,” explained Egrag Crypto.
A distinguished picture from Dall.e, chart from tradingview.com
