CandleFocus

XRP Sinks to a Weekly Low, Rebound Likely to Follow

Author: Content Editor
Ripple's native token, XRP, is currently trading at its lowest point in a week at $0.53, with a 3% price drop in the past 24 hours. However, analysis suggests that this decline may be temporary and that XRP may experience a rebound soon. The Chaikin Money Flow (CMF) indicator for XRP has maintained an uptrend despite the price decline, indicating that while there is overall selling pressure, it is weakening and bullish interest is growing. Additionally, XRP's positive funding rate reflects a bullish bias and suggests that traders are betting on a price recovery. If bullish sentiment regains strength, XRP may attempt to break through resistance at $0.65 and potentially rally to its seven-month high of $0.74. Conversely, if the downward trend continues, XRP's price may drop to $0.38, invalidating the bullish prediction.

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