After a 25% Drop, XRP Price’s Fate Rests on These Investors
The post After a 25% Drop, XRP Price’s Fate Rests on These Investors appeared on BitcoinEthereumNews.com.
XRP has faced a significant challenge, experiencing a sharp 25% drop in price within just one week. Although it has made attempts at recovery, the altcoin has yet to fully regain investor confidence. The market sentiment remains cautious, and the responsibility for recovery now lies with a specific group of investors. XRP Has A Shot At Bouncing Back The weighted sentiment surrounding XRP remains predominantly pessimistic. Recent price action, including the failed attempt to form a new all-time high (ATH), has left investors feeling disheartened. The altcoin’s sharp decline in the past week has only deepened the skepticism, with many choosing to adopt a wait-and-see approach. However, if market conditions improve, there’s potential for a shift in sentiment. Should the weighted sentiment indicator move above the neutral line, it would mark a return of bullish sentiment for the first time in a month. Such a shift could encourage renewed interest from investors and trigger a positive price movement. XRP Weighted Sentiment. Source: Santiment The macro momentum of XRP is showing signs of stability, with the Mean Coin Age (MCA) indicator continuing to rise. This uptick signals that long-term holders (LTHs) are opting for HODL instead of selling during the downturn. LTHs are often considered the backbone of any asset, and their decision to hold plays a crucial role in stabilizing prices. Their actions indicate that, despite recent price challenges, they are confident in XRP’s long-term prospects. This behavior helps prevent further downside and offers the potential for a price recovery. As LTHs continue to hold their positions, they may help create a strong base for future upward momentum. XRP MCA. Source: Santiment XRP Price Prediction: Rising To The Next Barrier XRP is currently trading at $2.47, making efforts to recover from the recent 25% crash. Holding above the support level of $2.33,…
Filed under: News - @ February 11, 2025 8:23 am