According to external sources, the XRP has been in a narrow swing around the US$ 1.05 for the past seven days, during which there was no clear support for the price, despite an attempt to stop it. According to the article, this expression is more like a microcosm of the overall pressure on the encrypted market, rather than a new fundamental problem for a single XRP project.

We're going down into a narrow sort.

From the trend of the Japanese line quoted in the text, after falling into a falling triangle between March and May, the decline accelerated and then moved into a narrow zone. The average of 50, 100 and 200 days is still above the price and continues in a downward direction, indicating that the short-line market is still dominated by the seller.

The article mentions that what is of concern at this time is not whether the XRP has gone off alone, but that mainstream encryption assets generally face similar pressures. Large assets, such as bitcoin and the Ether Mill, are also in a weak structure, with a marked reduction in market risk preferences and a shift in investor position from active warehousing to defence.

The slowdown in financial inflows has been slow to rebound

It is argued that there are several common features in the market in the recent past:

  • Additional funds entering the encryption market slowed down
  • Decline in speculative trading activity
  • Traders are less willing to pick up and bounce.

Against this background, it's hard for XRP to get out of low-level sorting. The article defines it as a general phenomenon at the level of industry, rather than an issue unique to the XRP.

The rebound still depends on the stability of mainstream assets.

In spite of the overall weakness, the article argues that the XRP is not completely without a chance to rebound. This is based on the fact that the relatively strong and weak indicators are close to oversold areas, which means that the front-runner may be close to the end of the phase. Historically, a similar state of affairs has sometimes resulted in a round of technical repairs.

At the same time, however, it is emphasized that the real recovery of the XRP will still depend to a large extent on whether Bitcoin and the Etherpo are able to stabilize their movements. If the market re-emerges the funds to a large market value, the XRP can become more visible.

In the event of restoration, the first observation site mentioned in the article was the 50-day mean line near $1.12, followed by a resistance area in the range of $1.21 to $1.30. To date, however, the mainstream encrypted assets have not given a clear inverted signal, and the barter structure still favours the seller.