At a value

Although the XRP is a gradual rise in the past weeks, it is still stuck under a major resistance barrier that has not been able to overcome it, and despite this rise, signs of decline in investor confidence appear, which increases the complexity of the general scene of the currency.

Group sale of big XRP holders

XRP this week has witnessed a huge wave of sale, as the achieved profits reached its highest levels since last March, nearly $ 470 million of XRP was sold within 24 hours, and this style brings back to the minds of what happened in March when a slight increase in the price led to a sudden wave of sale.

The market reaction to these changes reflects the dominant state of caution on investors, and historically it is noted that any rapid rise in the price of XRP is followed directly by heavy sales that lead to a sharp decrease, and that the behavior of whales who have large amounts of XRP does not indicate clear support for the price, which increases the fragility of the currency at the present time.

XRP needs a real broken direction

Over a month and a half, XRP has headed towards climbing, but now it faces a decisive obstacle represented in the four consecutive -month -old direction line, and previous attempts to penetrate this trend failed, and the currency remains without this critical barrier.

At the time of writing this report, XRP trading is taking place at $ 2.37, while struggling to install a level of $ 2.38 as support, and with the increase in the sale activity there is a great risk that the currency will drop below the level of $ 2.27, and may even reach 2.12 dollars if the selling pressures persist, which may lead to the fully emerging trend.

Is there a chance to apostasy?

Despite all these negative indicators, there is still a glimmer of hope. If Bitcoin succeeds in registering a new historical summit, this may lead to a comprehensive wave of rise in the market that pushes XRP forward, and in this case the main goal of the currency will be to exceed the level of $ 2.56 and install it as support, which nullifies the downward scenario and opens the door to new heights.