What next for XRP after this metric dips into the ‘undesirable’ zone

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Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion XRP 4-hour chart is bearish XRP’s 30-day MVRV slips into an undesirable zone At press time, XRP had lost over 87% of its value since its ATH in January 2018. It has been constrained […]

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinionhad lost over 87% of its value since its ATH in January 2018. It has been constrained by trendline resistance over the last two days.If XRP breaks out and retests the trendline, it could see a price rally in the coming sessions. At the time of writing, XRP was trading at $0.4379.XRP has been trading sideways since the last week of October.

The Death Cross – The short-term EMA crossing the long-term EMA from above – seemed to confirm that sellers continue to have the upper hand. Buyers have since found refuge in the $0.4177 – $0.4255 range. This range also contains the zero Fib retracement level at $0.4224 and has been a key support zone in September, October, and November.

With the Chaikin Money Flow indicator resting at zero, sellers and buyers have no significant leverage over each other. However, dropping below $0.4224 would set XRP for an extended downside.Since May 2022, the 30-day Market Value to Realized Value ratio has alternated between negative and positive ranges, with the highest positive peaks recorded in September.

 

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