- Buyers may want to check into purchasing Ripple at a discount.
- The number of daily active Ripple blockchain addresses has fallen.
A decreasing trend line shows that the price of XRP has been steadily dropping with lower lows and lower highs. For investors, you may take advantage of this downturn since it might give a purchasing opportunity.
Opportunity For Buyers
After three weeks of stagnation, there seems to be little hope of recovery in the foreseeable future for XRP’s price. Short-term, this might be a negative development, but its closeness to a sturdy support level could also be a chance for stranded buyers. As long as this trend continues, the 12-hour demand zone of $0.56 to $0.63 will be retested by XRP price. Buyers may want to check into purchasing Ripple at a discount.
XRP’s price is expected to break over the falling trend line and break past the $0.85 resistance barrier if buyers are revived. The XRP price is projected to rise by 35 percent to take advantage of the influx of liquidity that would result from this surge.
In support of this, the number of daily active Ripple blockchain addresses has fallen from 163,650 to 92,228 since January 27. According to the 43 percent drop in XRP’s price, investors aren’t interested in it.
XRP’s on-chain measure shows that it might fall, while the 365-day Market Value to Realized Value (MVRV) model predicts an uptick. As a result, the price of XRP is expected to rise significantly shortly. According to CoinMarketCap, the XRP price today is $0.724659 USD with a 24-hour trading volume of $2,774,567,369 USD. XRP is down 2.54% in the last 24 hours.
