Analysis: XRP in trouble, is a greater fall approaching?

Source: CritpoTendencia Original Title: Analysis: XRP in trouble, is a bigger drop approaching? Original Link: The price of XRP, like much of the top 10 major cryptocurrencies, is experiencing daily losses and is still far from recovering from the decline of the past seven days.

At the time of writing, XRP is trading at $2.12, with daily losses of 3.3%, weekly losses of 11.4%, and monthly losses of 13.9%. A clearly bearish outlook, similar to the rest of the crypto market.

What is behind the current decline of XRP?

For months now, there have been practically no sustained inflows in XRP. On November 19, there was another net outflow of 1.33 million dollars, a behavior consistent with the last few weeks.

This pattern reflects a greater aversion to risk, visible in both speculative technology stocks and the cryptocurrency market. It is related to several factors:

A more limited liquidity due to fears of excessive spending on AI projects, economic data pointing to greater instability, and a more restrictive stance from the Federal Reserve. Together, they create an unfavorable environment for bullish impulses, which keeps the downward pressure on the market.

At this moment, investors are watching several events that could influence the coming weeks: Nvidia's earnings, the FOMC minutes, and the non-farm payroll figures, considered key indicators for anticipating future movements.

According to analyst Ali Martinez, recent macroeconomic pressure and falling prices have generated significant reactions among investors. Furthermore, he shared an important projection for XRP:

Below $2.15, the next key levels for XRP are: $1.91 and $1.73

Analysis of XRP charts: key levels to consider

The chart shows that the 50-day EMA has fallen below the 200-day EMA. This cross, known as the death cross, suggests that the selling pressure in the medium term outweighs the long-term accumulation. Furthermore, the price continues to move within a medium-term bearish channel.

Resistance levels to watch:

• $2.21: 200 EMA level and immediate resistance. It is the first target to attempt to reverse the bearish trend.
• $2.30: intermediate resistance and maximum from November 17. It is the strongest level in the short term.
• $2.41: zone where the lower moving averages crossed downwards the upper ones (death cross), which resulted in the current levels.

Support levels to observe:

• $2.10: immediate support and double bottom, the strongest in the short term.
• $2.00: if the previous support fails, this would be the next level to watch and has psychological relevance.
• $1.85: if the previous level is broken, the price could descend towards this zone.

The RSI at 35 points indicates that bearish control continues and that new pullbacks could still occur.

Important data to keep in mind

According to market data, a trader recently opened a short position in XRP for 27 million dollars, using 20x leverage.

The available data shows that, in just 48 hours, around 200 million XRP were sold. This selling pressure came from large holders with between one and ten million tokens.

Although the price of XRP continues to be above relevant historical levels, about 41.5% of its supply ( around 26.5 billion tokens ) is currently in a loss situation. This reflects a notable deterioration in the overall profitability of the token.

Similarly, the proportion of holders in profit fell to 58.5%, the lowest level since November of last year, when XRP was trading near $0.53. This drop in profitability, combined with the increase in trading volume, suggests a market under strong pressure and with a clear predominance of bearish sentiment.