Ripple (XRP) Price Moves Lower Amid Market Sell-Off
Ripple (XRP) is trading below $2.18 as of Friday. Most major cryptocurrencies are falling. Bitcoin (BTC) remains just above $100,000. Ethereum (ETH) trades below $3,250. Several attempts to recover prices have failed. This comes amid US government shutdown uncertainty, low retail activity, and weak market catalysts.
XRP Retail Activity Slows After Big October Sell-Off
Retail trading in XRP has slowed since the big sell-off on October 10. That day saw $19 billion wiped from the crypto market. Many traders faced losses, and investors are cautious now. CryptoQuant’s data shows retail investors staying mostly on the sidelines. This neutral trading may mean XRP is nearing a bottom. It could offer buying opportunities for some investors.
Whale transfers of XRP to Binance have dropped sharply this week. There were about 800 such transfers on Friday. This is down from around 49,000 on October 25 and 44,000 on October 11. Large transfers to exchanges usually signal more selling ahead. The recent drop might lessen selling pressure and support price stability.
Technical Outlook Shows Bearish Pressure on XRP
XRP fell back after reaching $2.23 on Friday, dropping under $2.18. The Relative Strength Index (RSI) fell from 42 on Wednesday to 35. This suggests sellers have control. The Moving Average Convergence Divergence (MACD) indicator has indicated a sell signal since Tuesday. The MACD’s blue line remains below the red signal line, signaling bearish sentiment.
A “Death Cross” pattern may form soon on the daily chart. This happens when the 50-day moving average crosses below the 200-day average. The 50-day EMA is near $2.58 and may cross under the 200-day EMA soon. This pattern usually points to further price drops. However, if buyers step in, XRP could rise above $2.58, where resistance lies.
