XRP Faces Critical Technical Level At $2.73 — Why It Matters
Over the past week, XRP has declined by 7.02%, dropping below the $3 support level and consolidating around $2.78-$2.79. On-chain data reveals a crucial support zone that XRP bulls need to watch.
XRP Price Gap Concerns
- Crypto analyst Ali Martinez highlighted a price gap between $2.73 and $2.51, identified through the UTXO Realized Price Distribution (URPD) metric.
- This gap indicates limited trading activity and suggests little support or resistance in this range.
- Falling below $2.73 could lead to a decline towards $2.51, with minimal support in between.
XRP Current Market Sentiment
- XRP is valued at approximately $2.78 with a daily gain of 0.78%.
- Trading volume has decreased by 58.95%, currently at $3.02 billion.
- The market sentiment is bearish, with the Fear and Greed Index at 33, indicating fear.
- XRP recorded 13 red days over the last 30 sessions, reflecting weak performance.
Forecasts suggest low volatility for XRP in the near term, with prices likely to remain stable unless significant market changes occur. Short-term traders are advised to be cautious, while long-term holders should monitor broader market trends for potential shifts.
