- In the past seven days, XRP’s price has dropped by almost 8%.
- OI shows that buyers are showing positive signs.
Ripple’s XRP As indicated by its chart, it was unable start the month off in a positive way. The price of the stock has declined over the past few days.
XRP is still declining.
The Analysis of XRP On a daily basis, the price has been consistently declining since April 1. The price of the coin dropped 2.84% to approximately $0.61 on April 1.
A more substantial decline occurred the next day of over 4%. This pushed the price up to its observed range of $0.58. Even though the drop on April 3rd, was minimal, only 1.89% in magnitude, the price dropped to about $0.57.
The Relative Strength Index has been affected by these consecutive drops, causing the RSI to drop below the neutral level to around 40.
Santiment
The price has increased by less than 1 percent, but is still within $0.57’s range.
Despite the fact that the RSI remained lower than the neutral line, XRP’s trend continued to be bearish. Moving Average Convergence Divergence(MACD) showed trends that were also below zero.
XRP posts highest decline among top-seven
You can also find out more about the following: XRP Daily volume analysis of Santiment revealed a decrease in the last few days. The volume reached $2.1 billion as of the 2nd April.
It has now dropped to about $1.5 billion as of the date this article was written. This decrease suggests that trading has slowed, which could have contributed to a slower price change.
Santiment
According to Daten CoinMarketCapXRP was the asset that experienced the greatest decline in value amongst the top seven over the last week. As I write this, XRP has fallen by 7.4%. In the past 24 hours it has also declined by more than 2.6%.
With its current market trend, it is the seventh largest asset in terms market capitalization.
Buyers remain hopeful
Despite the continued decline of XRP’s price, there are still some positive signs. Coinglass Open Interest (OI), as indicated by the data, remains high. According to analysis, at present the open interest hovers close to $900,000,000.
Whether you think it’s realistic or not. XRP market cap BTC in its own terms
The OI trends indicates that the current figure corresponds to the same region as observed the month before.
A funding rate analysis also shows that the fundament is still positive despite the price decline of XRP. It is clear that buyers remain optimistic about a price rise in the future.
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Source: ambcrypto.com
