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Home»ALTCOIN NEWS»Ripple: How did XRP respond to $ 64 million?
ALTCOIN NEWS

Ripple: How did XRP respond to $ 64 million?

By Crypto FlexsMay 4, 20254 Mins Read
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Ripple: How did XRP respond to $ 64 million?
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  • The XRP whale activity suggests a rise in liquidity, but the risk of volatility in Ripple is still higher.
  • Ripple’s NVT ratio surge rapidly, suggesting that XRP can be overestimated and vulnerable to correction.

RIPPLE (XRP) has shifted a new volatility signal after moving 29,532,534 XRP ($ 64.4 million) to coinbase.

This transfer may be a signal that liquidity and price fluctuations increase.

Whale activities can have a big impact on market sentiment. When a large amount of XRP is transferred to the exchange, it can lead to the sale or accumulation of investors.

As the trader waits for a new catalyst, the user activity is slowing down.

ripples Participation in network shows a weak signal.

The daily active address of XRP has dropped to 12,941 and indicates a decrease in user activity. In addition, the number of transactions has recently dropped to 116.67K.

This decrease in user participation indicates that the trader is waiting for more exercise or news to draw more price action.

Continuous increase in these indicators can indicate an increase in adoption and provides a strong strength in XRP in the short term.

Source: Santiment

XRP market sentiment and network health evaluation

The XRP’s MVRV length/short difference decreases by 19.02%, indicating that long -term holders can reduce position.

This change suggests that market feelings can be more cautious as the short position increases.

The decrease in long/short difference can indicate that merchants are adjusting their position due to uncertainty or weakness of weakness. The continuous decline in MVRVs shows the weakness of the weak unless market trust is reversed.

Source: Santiment

In addition, the NVT ratio increased by 587.15% in 24 hours, now at 446.67.

This rapid increase refers to the over -evaluation of XRP as its market cap increases faster than trading volume.

The NVT ratio emphasizes the risk of overestimation, acting as a warning signal for potential price operation or speculative activities. If the NVT ratio is high, the current price may not be completely supported by trading activities, which can lead to correction.

XRP’s price behavior and resistance level

In the press time, Altcoin tested the main resistance of $ 2.30, as shown in the latest chart.

The XRP has been integrated from $ 1.78 to $ 2.30, and the Bollinger band suggests a potential destruction or failure by proposing a reinforcement range.

MACD shows a neutral position and suggests an unknown in the market.

If the XRP is destroyed to more than $ 2.30 as the XRP increases, the next key resistance will be optimistic at $ 2.50. However, if you do not violate this level, it can be strengthened or potential fullback.

Source: TradingView

Publication of public interests and impacts on market sentiment

XRP’s public interest (OI) decreased 1.26% to $ 36.7 billion.

This decrease in OI suggests that market participants are becoming more cautious due to price behavior and uncertainty of network indicators.

This reduction proposed a decrease in conviction among merchants. When OIs are reduced, less aggressive positioning and market participation will signal less.

Source: COINGLASS

What is the following of XRP?

XRP’s market performance shows the harmony of attention and potential.

Whale activity and MVRV analysis show volatility, but the surge in NVT ratios suggests that the current price can expand and cause overestimation risk. In addition, the decrease in OIST reflects the hesitation of the market.

Despite these factors, XRP maintains elasticity with continuous changes in user participation and network activities.

The direction of the price of XRP depends on how these elements evolve as the trader adjusts its position, especially with new development.

Next: Bitcoin: Despite the half, the BTC miner refuses to sell.

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