The recent rise attempts in the XRP price were limited due to the general sales pressure. Finally, while a decline was observed towards the level of 1.33 dollars, it is noteworthy that the buying intensity in the market remained weak again. Movements in price indicate that increases are used for exits from positions rather than opening new positions.
Selling pressure came to the fore in price movements
ETF inflows of $3.32 million were recorded in Ripple-related financial products. This change, which came after the outflows in March, did not provide a sufficient inflow for price stability. During this period, liquidity levels on stock exchanges also decreased significantly. This weakening in liquidity indicates that sharp movements may occur if important price levels are broken.
The price recently retreated from $1.37 to $1.33, and the decline accelerated further after the rejection near $1.38. High volume selling prevented the hold above $1.35 and lower highs were observed towards the close. Although a limited recovery was seen after the sharp fluctuation that tested $1.31 late in the day, bullish efforts failed to produce a meaningful picture.
Signs of weakness in the market structure came to the fore
The fact that the price continues to decline while the transaction volume has increased recently indicates that disposal is more prominent in the market than accumulation. Repeated rejections in the $1.37-$1.38 range indicate intense selling pressure at these levels. The fact that XRP is weaker compared to the general cryptocurrency market reveals that the market’s interest has shifted to different assets.
The price is still below the major moving averages and remains in a downward trend. This shows that the weak trend continues in the general outlook.
While the $1.33 level stood out as support in the near term, $1.28 stood out as the real critical zone. It is stated that if this level is broken downwards, the downward movement may gain momentum.
On the other hand, if an upward movement is to gain momentum in the short term, the barriers of $1.35 and then $1.38 must be clearly overcome. Otherwise, price movement is expected to be limited to short-term and weak reaction increases.
