The price of Ripple (XRP) has been generally on a downward trend since reaching its highest point of the year last month.
However, as investors have pointed out, this downward trend appears likely to continue.
Ripple loses institutional interest.
Over the past year, the price of XRP has been greatly influenced by the inflow and outflow of institutional investments. But this year things are very different. According to a CoinShares report, Ripple appears to be losing interest from these institutions, who appear to have moved on to other altcoins.
Companies like Polkadot (DOT) and Solana (SOL) have seen significantly higher inflows than XRP over the past month. In the month of March, DOT inflows reached $13.6 million. SOL noted that there were $24.9 million in institutional inflows, while XRP had only $3.8 million.
This weakness is also reflected in the price indicators Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD).
RSI is a momentum oscillator that measures the speed and change in prices and indicates overbought and oversold conditions. MACD, on the other hand, is a trend-following momentum indicator that is used to identify bullish and bearish trends.
Both are currently in their respective bearish zones and considering the death crossover threat to XRP, they may continue to remain there.
XRP Price Prediction: Death Cross
XRP price trading at $0.58 indicates a dead cross has formed on the 12-hour chart. A dead cross is bearish and occurs when the short-term 50-day exponential moving average (EMA) crosses below the long-term 200-day EMA.
This is a sign that XRP is likely to shift into a bearish trend, and XRP may not be able to reclaim $0.58 as support and fall to $0.54.
Read more: Ripple (XRP) price prediction for 2024/2025/2030
However, if the $0.58 level turns into support, XRP could rally back above $0.60, negating the decline.
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