Predicting XRP Price and Preventing Altcoin Dipping Underneath $.50 – Guidelines and Tactics

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• XRP bounces again from latest losses, but indications issue to potential difficulty ahead
• Whilst some traders took gain of the selling price dip, indicators recommend a downward development for XRP

Just after a drop from $.59 to $.43 in mid-April, XRP managed to surpass the $.50 mark on April 18.

At this time, the altcoin is sitting down at $.51, exhibiting a 5% boost in the last 24 hours, thanks to Bitcoin’s halving. Even with this positive movement, facts on the chain implies that the recovery may possibly not final extended. To delve further into this, let us consider a seem at XRP’s source distribution.

A Glimpse at XRP’s Problem

Assessment from Santiment reveals a noteworthy decrease in the variety of addresses holding 100 to 1 million XRP tokens as opposed to prior months.

For instance, the rely of holders with 100,000 to 1 million tokens dropped from all over 31,000 in March to a lessen determine now. Equally, the range of holders with 100 to 1,000 XRPs has also fallen from all over 731,000 earlier to 718,000 now.

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Reading the Indicators

The Stochastic Relative Strength Index (Stoch RSI) suggests that XRP was nearing overbought territory with the indicator surpassing 80, signaling a potential retracement.

Meanwhile, the Accumulation/Distribution (A/D) showed an upward trend, indicating that traders had been buying the dip. If this buying pressure continues, XRP could see a positive movement. However, a surge in selling pressure could lead to a significant decline, possibly dropping XRP to $0.45. It’s important to note that the Exponential Moving Average (EMA) also displayed a bearish signal.

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Looking at XRP's realized cap, which currently stands at 147.56 million, a downtrend suggest that participants are realizing losses, potentially leading to a further downturn unless there’s renewed buying activity.