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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-monitor-xrps-price-amid-bearish-indicators/" data-wpel-link="internal">Investors Monitor XRP’s Price Amid Bearish Indicators</a><br></p>
<p style="text-align: justify"><strong>In the cryptocurrency</strong> world, <a href="https://en.coin-turk.com/ripple-ctos-provocative-proposal-to-elon-musk/" data-wpel-link="internal">XRP</a> has recently faced selling pressure. Despite a 2% increase in XRP price last week, the downward trend in the charts worried <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>. This article examines indicators that could shape XRP’s price <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">in the near future</a>.</p> 
<h2 style="text-align: justify" id="xrp-s-bearish-outlook-raised-concerns">XRP’s Bearish Outlook Raised Concerns</h2> 
<p style="text-align: justify">Data shows that <strong>XRP</strong>‘s momentum has slowed. XRP price showed marginal movement in the last day. Currently, XRP is trading at $0.5236 with a market cap exceeding $29.3 billion. This price stagnation emerged as the bearish pennant formation, which appeared in mid-April, continued to be a significant feature on XRP’s daily chart.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-355279 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/XRPUSDT_2024-05-24_13-16-30.png" alt="" width="1815" height="798"></p> 
<p style="text-align: justify">A bearish pennant formation typically indicates the potential for further price declines. If XRP’s price falls below the lower trendline of this formation, it could signal a significant drop, potentially bringing the price down to $0.47.</p> 
<h2 style="text-align: justify" id="santiment-data-indicated-decline">Santiment Data Indicated Decline</h2> 
<p style="text-align: justify">Santiment’s data highlighted several metrics that reinforced the bearish outlook. One of these metrics was the increase in XRP’s exchange inflow last week, indicating increased selling activity as investors moved their tokens to exchanges. This rising selling pressure shows that many investors are abandoning XRP, which usually signals an impending price drop.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-355280 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/santiment-xrp.png" alt="" width="2560" height="867"></p> 
<p style="text-align: justify">Additionally, XRP’s NVT (Network Value to Transactions) ratio showed a sharp increase. A high NVT ratio typically indicates that the asset may be overvalued, suggesting a likely price correction. Similarly, the MVRV (Market Value to Realized Value) ratio also showed a downward trend, which is another bearish indicator.</p> 
<h2 style="text-align: justify" id="optimistic-metrics-also-present">Optimistic Metrics Also Present</h2> 
<p style="text-align: justify">Despite these bearish signals, some metrics pointed to a more optimistic outlook for XRP. For instance, the weighted sentiment for XRP increased, reflecting growing confidence among investors and a generally bullish trend in the market. This positive sentiment could somewhat counterbalance the bearish indicators.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-355281 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/lon-short.png" alt="" width="2560" height="660"></p> 
<p style="text-align: justify">Moreover, data from Coinglass showed an increase in XRP’s <strong>long/short</strong> ratio in the last 12 hours. A higher long/short ratio indicates that more investors are betting on XRP’s price to rise, which can be seen as a bullish signal.</p> 
<h2 style="text-align: justify" id="market-uncertainty-could-affect-xrp-price">Market Uncertainty Could Affect XRP Price</h2> 
<p style="text-align: justify">Chaikin Money Flow (CMF) showed an upward trend following a recent decline, indicating capital inflow into XRP. Similarly, the Money Flow Index (<strong>MFI</strong>) showed a bullish trend, emphasizing buying pressure and a potential price increase.</p> 
<p style="text-align: justify">If these bullish indicators persist, XRP might avoid testing the bearish pennant formation and continue its upward trajectory. In this case, the price could target $0.544, where liquidation levels would rise, potentially triggering a price correction due to high liquidation activity.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/investors-monitor-xrps-price-amid-bearish-indicators/" data-wpel-link="internal">Investors Monitor XRP’s Price Amid Bearish Indicators</a></h5>

Investors Monitor XRP’s Price Amid Bearish Indicators

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