Movement to Death Cross Begins, Shiba Inu (SHIB) Bulls Gave Up? Solana (SOL) Bullish Reversal Might Be Around Corner
The post Movement to Death Cross Begins, Shiba Inu (SHIB) Bulls Gave Up? Solana (SOL) Bullish Reversal Might Be Around Corner appeared on BitcoinEthereumNews.com.
Recent data shows a 730 million XRP outflow from the network’s payment volume, which has greatly hampered XRP’s price recovery. The asset’s capacity to sustain upward momentum is called into question by this drop in transactional activity, which indicates waning investor confidence. Following an attempt to breach significant resistance levels XRP has had difficulty maintaining its upward trajectory. The price did not benefit from the recovery of the wider market and recently stayed around $2.32. Because they have served as dynamic resistance zones, the 50-day and 100-day moving averages have kept XRP from regaining ground that it has lost. XRP/USDT Chart by TradingView The asset has been marking lower highs on the price chart, which suggests that buying pressure may be waning. The most worrisome aspect of XRP’s slow recovery is the sharp decline in its volume of on-chain payments. A considerable drop in transactional activity is reflected in the 730 million XRP drop, which raises concerns about the general health of the network. Reduced adoption and utility are typically indicated by a significant drop in payment volume, which is concerning for any asset trying to recover. Crypto market price rallies have historically been preceded by robust network activity. But according to the most recent data, user engagement and capital flows within the ecosystem are still lacking even in spite of XRP’s prior price spikes. Bitcoin has not found success Recent volatility in the price trajectory of Bitcoin has made it difficult for the asset to maintain momentum above $90,000. The cryptocurrency may be at a turning point according to recent indicators, despite a historic uptrend. The 1,460-day running ROI chart is displaying a downward trajectory that may have major ramifications for the future movement of the price of Bitcoin. Bitcoin was recently pushed back toward the 100-day moving average…
Filed under: News - @ March 10, 2025 12:08 am