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👆Follow me to share Web3 cutting-edge news every day👆Jinskirt +Q: 3904787538 In the past 30 days, the price of XRP has fallen by nearly 23%, recording one of the largest declines this quarter. However, the market has recently released positive signals: prices have rebounded by 6% in the past 24 hours, and multiple indicators and technical indicators show that selling pressure has weakened and signs of a potential rebound have emerged. Investor losses hit extreme levels, suggesting bottom is nearOn-chain data shows that the net unrealized profit and loss (NUPL) of short-term holders has fallen to -0.20, a one-year low (the current XRP price is about $2.30). Historical data shows that similar lows (0.13 in April and 0.15 in June) rebounded significantly, rising 20% in four days and 74% in one month respectively.  (Data source: Glassnode) Long-term holders NUPL fell simultaneously to a six-month low of 0.53, with similar lows earlier this month pushing XRP back up from $2.38 to $2.62 (a 10% gain). The two types of holder indicators are falling together, reflecting the general fatigue of the market and creating conditions for recovery.  (Data source: Glassnode) Enter skirt +Q: 3904787538 Momentum indicators confirm possible reversal, hidden bullish divergence appearsHidden Bullish Divergence on the Relative Strength Index (RSI): Between April 7 and October 10, XRP price formed higher lows while the RSI formed lower lows. This signal suggests that despite the short-term weakness, the underlying upward trend from April remains intact.  (Data source: TradingView) Another key technical signal is the completion of three death crosses (the 20-day moving average falls below the 100-day and 200-day moving average, and the 50-day moving average falls below the 100-day moving average). Such signals usually appear at the end of the bearish phase, suggesting that the correction may be coming to an end. Enter skirt +Q: 3904787538 The key to recovery lies in two major resistance levels, and the risk of falling below $2.28 increases.The current XRP price is close to $2.35. If the daily closing price exceeds $2.44, it will release the first strength signal； After confirming a breakout of $2.59 (close to the 200-day moving average), it is expected to further test $2.82 and $3.10.  (Data source: TradingView) On the contrary, if the price falls below $2.28, recovery expectations will weaken, and it may retest $2.08, or even test the potential cycle bottom of $1.77. That’s it for today’s article. I don’t know what to do in the bull market. Welcome to join the skirt+V: sun568298 for free.  |
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