XRP Price May Slide to $2.4: Analyst Cites Whale Selling, Bearish MVRV Cross
The post XRP Price May Slide to $2.4: Analyst Cites Whale Selling, Bearish MVRV Cross appeared on BitcoinEthereumNews.com. Key Insights: XRP price faces potential correction to $2.40 support. Analyst cites whale selling pressure and bearish MVRV cross as the reason Ripple submits regulatory response while indicators suggest deeper pullback ahead The recent comments from market pundits indicate that the XRP price may decline to the $2.40 support level. Ali Martinez points to the 3-day chart’s TD Sequential sell signal as the reason for the pullback. There is currently downward momentum due to bearish MVRV cross and whale selling pressure. During the correction phase, XRP is down 4.1% a day and has lost 14.6% over the last two weeks. XRP Price Faces Correction Pressure to $2.4 Ali Martinez identified the TD Sequential sell signal on XRP’s 3-day chart at the local top. The technical indicator triggered an ongoing pullback from recent highs, creating bearish momentum. The next key support level is estimated to be at $2.40, according to his projection. Meanwhile, XRP price continues pulling back after sell signal confirmation on longer timeframes. The Tom DeMark Sequential flashed a warning right at peak levels. XRP Price Analysis | Source: Ali Martinez, X Current price action shows a 4.1% daily decline with continued weakness. Two-week performance shows 14.6% losses while seven-day charts show a 4.8% decline. Monthly data shows 28.8% gains despite the recent correction phase beginning. An alternative analyst suggests the direct upside route remains possible through the yellow scenario. Fibonacci levels of $3.84 and $4.33 would be the next upside targets in case of recovery. Closing below the weekend low would initiate alternative bearish scenarios. XRP Price Action | Source: More Crypto Online The present technical setup shows conflicting signals with areas of resistance and support. The correction can further go on if selling pressure continues to build. Whale action and MVRV cross add additional bearish considerations to…
The post XRP Price May Slide to $2.4: Analyst Cites Whale Selling, Bearish MVRV Cross appeared on BitcoinEthereumNews.com.
Key Insights: XRP price faces potential correction to $2.40 support. Analyst cites whale selling pressure and bearish MVRV cross as the reason Ripple submits regulatory response while indicators suggest deeper pullback ahead The recent comments from market pundits indicate that the XRP price may decline to the $2.40 support level. Ali Martinez points to the 3-day chart’s TD Sequential sell signal as the reason for the pullback. There is currently downward momentum due to bearish MVRV cross and whale selling pressure. During the correction phase, XRP is down 4.1% a day and has lost 14.6% over the last two weeks. XRP Price Faces Correction Pressure to $2.4 Ali Martinez identified the TD Sequential sell signal on XRP’s 3-day chart at the local top. The technical indicator triggered an ongoing pullback from recent highs, creating bearish momentum. The next key support level is estimated to be at $2.40, according to his projection. Meanwhile, XRP price continues pulling back after sell signal confirmation on longer timeframes. The Tom DeMark Sequential flashed a warning right at peak levels. XRP Price Analysis | Source: Ali Martinez, X Current price action shows a 4.1% daily decline with continued weakness. Two-week performance shows 14.6% losses while seven-day charts show a 4.8% decline. Monthly data shows 28.8% gains despite the recent correction phase beginning. An alternative analyst suggests the direct upside route remains possible through the yellow scenario. Fibonacci levels of $3.84 and $4.33 would be the next upside targets in case of recovery. Closing below the weekend low would initiate alternative bearish scenarios. XRP Price Action | Source: More Crypto Online The present technical setup shows conflicting signals with areas of resistance and support. The correction can further go on if selling pressure continues to build. Whale action and MVRV cross add additional bearish considerations to…
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