Analysis of Ripple (XRP) Price in Risk of 18% Correction

Friday, 26 April 2024, 04:30
Ripple's (XRP) price is at risk of an 18% correction as it struggles to maintain critical support levels amidst selling pressures. Investors' sentiment towards XRP appears bearish, signaling a potential further decline that could test key levels. The divergence in price and network growth metrics suggests a challenging outlook for XRP's recovery.
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Analysis of Ripple (XRP) Price in Risk of 18% Correction

Ripple Investors Take a Step Back

Ripple's (XRP) price is facing challenges as it hovers near critical support levels, triggering concerns among investors. The negative price daily active addresses (DAA) divergence signals selling pressure and a lack of recovery momentum. This behavior reflects pessimism among token holders and potential investors.

Ripple Price DAA Divergence

  • The sentiment of saving oneself extends to potential investors, with network growth at a four-year low.

Ripple Network Growth

  1. XRP price's resilience hinges on holding above key support levels, with a potential 18% decline looming.
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