XRP Price Prediction as XRP Dips -3.01% Today – Will it Keep Falling?
The XRP price has fallen by 2% in the past 24 hours, sinking to $0.479290 as the cryptocurrency market as a whole suffers a similar dip today.
XRP is now down by 8.5% in the last seven days, yet it remains flat in the past month and up by 41% since the beginning of the year.
It seems that the declines of the past few days have been caused by an increase in market-wide negativity, which has seen a number of whales dump some of their XRP holdings, causing the token to slide.
Yet with Ripple receiving good news in the past few weeks, and with XRP continuing to have very strong fundamentals, the altcoin should enjoy a rebound soon enough.
XRP's indicators are showing weakness at the moment, with the coin looking as though it could fall a little further before correcting itself again.
In particular, its 30-day exponential moving average (yellow) dropped below its 200-day average (blue) a few days, a move which often marks the beginning of a selloff.
On top of this, XRP's relative strength index (purple) continues to slide, having fallen below 40 today and likely to sink to 30, if not lower.
In other words, the coin is being sold hard at the moment and may need to decline further before new buyers are tempted enough to buy it at a discount.
And given how steeply it has fallen in the past week, there's a real chance it could plunge below its current support level (green), something which may signal further losses.
Still, XRP remains a fundamentally sound coin, with its losses arguably coming because whales have decided to take profits after several weeks of gains.
But such selloffs from whales doesn't make XRP any less attractive in the longer term, with the token recently celebrating the news that a judge had denied the SEC's
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