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- Price Analysis: XRP Maintains Bearish Outlook:
XRP is currently trading at $1.04, maintaining a clear short-term bearish trend, as its price is well below the 50, 100, and 200-day Exponential Moving Averages (EMA), which stand at $1.20, $1.31, and $1.52 respectively. Bollinger Bands indicate spot trading below the middle band at $1.12 and relatively close to the lower support level at $1.00, hinting at continued bearish pressure.
At the same time, momentum indicators reinforce this constrained structure, with the Moving Average Convergence Divergence (MACD) histogram slightly negative on the daily chart, and the Relative Strength Index (RSI) hovering near 32, indicating weak demand with a slightly oversold bias rather than a decisive reversal.
XRP/USDT Daily Chart
On the upside, initial resistance appears at the Bollinger middle band near $1.12, followed by a cluster of resistance from the 50-day EMA at $1.12 and the Bollinger upper band around $1.24, before a more significant barrier at the 100-day EMA at $1.31 and the broader bearish ceiling imposed by the 200-day EMA at $1.52.
On the downside, immediate focus is on the pivot point around the current trading zone near $1.04. A daily close below this level would open the way toward the Bollinger lower band support at $1.00, where buyers might attempt to stabilize the price before any real recovery attempt toward the higher moving averages.
$XRP
XRP's price dropped slightly but remained above the psychological $1.00 level on Tuesday.
XRP's ledger is seeing notable network growth, with the number of newly created addresses rising to nearly 5,000, indicating buying on dips.
U.S. XRP ETFs continued their upward trajectory with $15 million in inflows on Monday, but failed to lift price expectations.
Ripple (XRP) remains steady above the key psychological support level of $1.00 at the time of writing on Tuesday, even as the market experiences a prolonged downturn that began in mid-June.
This decline highlights the prevailing risk aversion in the crypto world. However, XRP is seeing renewed momentum, reflected in the sharp rise in blockchain activity and ongoing institutional inflows.
- XRP Network Activity Rising
The XRP Ledger (XRPL) is seeing a notable increase in network activity, with the number of new wallets created daily approaching 5,000, a level not seen in the past three months, according to Santiment data. This increase indicates that despite continued price pressure near the $1 level, investor engagement remains strong, as participants take advantage of this important psychological support.
XRP Ledger Network Activity | Source: Santiment
Market sentiment is also turning increasingly positive around the $1.00 level, with positive comments now outweighing negative ones by a ratio of 3.7 to 1, confirming the appeal of this level as a buying opportunity on dips.
"Part of this optimism comes from XRP's familiar history of recovery, the ongoing ETF and institutional narratives, and the idea that large investors continued to build their exposure even during bad price moves," said Santiment analysts.
On the other hand, spot XRP ETFs continue to record cash inflows that defy the current bearish expectations in the crypto market. Cash inflows to U.S.-listed ETFs stabilized above $15 million on Monday, bringing total deposits to $1.48 billion and net assets under management to $972 million.
The ongoing demand for XRP ETFs shows that institutions see a positive picture and are willing to increase their exposure even as prices decline near the psychological support level of $1.00.
$XRP