Ripple’s (XRP) Buy Signal May Hurt Your Investments

2024-9-12 20:43

XRP’s muted reaction over the past few weeks has presented a buying opportunity. On-chain data shows that the altcoin is undervalued, and some investors may want to “buy the dip.”

However, the asset’s technical setup suggests that the downturn is far from over.

Ripple May Look Attractive, But There Is a Catch

XRP has shed almost 10% of its value in the last month. This price drop has led to a negative market value to realized value (MVRV) ratio, suggesting that the seventh crypto asset by market capitalization may be undervalued.

As of now, XRP’s 30-day and 90-day MVRV ratios are -3.85 and -2.66, respectively. These figures indicate that the current price is lower than the average cost of all XRP tokens in circulation, making the altcoin an attractive option for traders looking to buy at a lower price than its historical cost basis.

XRP MVRV Ratio. Source: Santiment

However, XRP is not out of the woods yet. The asset continues to face negative sentiment, as reflected by its weighted sentiment score, which currently stands at -0.18.

When the value of an asset’s weighted sentiment is below zero, most social media discussions are fueled by negative emotions like fear, uncertainty, and doubt. In a downtrend, it hints at a continued decline.

Read more: 10 Best Altcoin Exchanges In 2024

XRP Weighted Sentiment. Source: Santiment XRP Price Prediction: Token Aims For New Low

Ripple’s technical setup reinforces the bearish outlook. The Elder-Ray Index (ERI), which tracks buying and selling pressure, shows that selling pressure has dominated the XRP market since August 27, with only negative values recorded. This indicates that sellers are outpacing buyers.

Additionally, XRP’s Directional Movement Index (DMI) shows the positive directional indicator (blue) sitting below the negative directional indicator (red). This setup confirms stronger selling pressure, signaling that the market remains in a downtrend.

Read more: How To Buy XRP and Everything You Need To Know

XRP Daily Analysis. Source: TradingView

If XRP’s price decline continues, it risks losing support at $0.45, potentially dropping to $0.38. However, if the market sentiment shifts from negative to positive, XRP’s price could rise and target $0.65.

The post Ripple’s (XRP) Buy Signal May Hurt Your Investments appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ripple (XRP) на Currencies.ru

$ 0.5832 (+0.21%)
Объем 24H $1.137b
Изменеия 24h: -0.08 %, 7d: 0.96 %
Cегодня L: $0.5811 - H: $0.5853
Капитализация $32.912b Rank 7
Цена в час новости $ 0.5353 (8.95%)

xrp investments ripple hurt your buy may

Источник: beincrypto.com

xrp investments → Результатов: 100


XRP and XLM: Short-Term or Long-Term Investments?

With the idea that cryptocurrency can create a millionaire overnight, a lot of investors especially the newbies make little analysis on the digital asset they intend to buy providing it is cheap. On the ground of speculation, all cryptocurrencies can be invested for the short term, but when we focus on valuation, most of the […] The post XRP and XLM: Short-Term or Long-Term Investments? appeared first on ZyCrypto.

2019-5-1 22:35


Thai SEC Adds Acceptable ICO Token Trading Pairs: BCH, ETC and LTC Join BTC, ETH, XRP and XLM Coins

In Thailand, there are certain cryptocurrency regulations that determine exactly which assets are permissible to be used in initial coin offering (ICO) investments, along with trading pairs. In December last year, the Thai Securities and Exchange Commission (Thai SEC) announced that there would be changes to current rules that kept ICOs from thriving, which would […]

2019-2-28 20:30


Fidelity Investments looking to expand its upcoming crypto trading platform with XRP, Bitcoin Cash, EOS, Stellar, and Litecoin 

DJ Khaled and Floyd Mayweather reach settlement with the SEC regarding CentraTech controversy Popular rapper and music producer DJ Khaled and boxer Floyd Mayweather Jr. were charged by the Securities and Exchange Commission this Thursday with promoting initial cryptocurrency coin offerings without revealing that the promotion was paid.

2018-12-1 22:18


Grayscale Investments: Институциональные инвесторы переключаются на XRP

Компания Grayscale Investments, запущенная Digital Currency Group в сентябре 2013 года, стала крупным игроком финансового пространства, оказывающим значительное влияние на рынок цифровых валют. Она управляет криптовалютными инвестиционными трастовыми фондами, работающими на внебиржевом рынке (OT...

2018-10-11 21:18


Фото:

US Regulatory Authority Approves BitGo For Custodian – BTC, ETH & XRP For Recovery

US regulatory authority approves BitGo for the status of a custodian for crypto and the market is booming during positive news. The digital currency security startup BitGo has been granted approval of a custodian for crypto and other virtual assets after the company put in a request for permission to act as a digital asset custodian.

2018-9-14 21:30


Bitcoin [BTC] to hit $25000 in the upcoming months, says Michael Arrington

On 23rd July, Ran Neu-Ner at the Korea Blockchain Week interviewed Michael Arrington of Arrington’s XRP Capital, who also recently found the business information and data company called CrunchFund. During the discussion, he spoke about the underlying asset value of XRP, the token’s use-case, few of his favorite recently made investments for Arrington’s XRP Capital […]

2018-7-25 00:50


Grayscale Investments представила квартальный отчет для Digital Large Cap Fund

Инвестиционная компания Барри Силберта Grayscale Investments представила квартальный отчет для одного из своих фондов, ориентированного на институциональных инвесторов — Digital Large Cap Fund.

2018-7-10 16:19


Grayscale Investments запустит криптовалютный фонд на основе ZenCash

Инвестиционная компания Барри Силберта Grayscale Investments объявила о предстоящем запуске девятого по счету криптовалютного фонда для аккредитованных инвесторов ZenCash Investment Trust. ANNOUNCEMENT: We are excited to share that we will launch our 9th product, ZenCash Investment Trust, during Q3! Learn more about $ZEN ➡ https://t.

2018-6-15 10:36


дальше еще 51 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

XRP Price Could Successfully Sustain Above $0.60 This Time

XRP's 14% rise brings it close to the $0.60 resistance. Strong RSI and Sharpe Ratio signal potential gains, but pullback risks remain. The post XRP Price Could Successfully Sustain Above $0.60 This Time appeared first on BeInCrypto.

Bitcoin, Ethereum, XRP Weekly Wrap – September 14, 2024

Bitcoin, Ethereum, and XRP show bullish potential, with BTC targeting $91,410 and XRP outperforming. However, key support levels must hold to sustain momentum. The post Bitcoin, Ethereum, XRP Weekly Wrap – September 14, 2024 appeared first on BeInCrypto.

XRP ETF Hopes Sparks Market-Wide FOMO

XRP surged after Grayscale's XRP Trust launch, with speculation of an ETF fueling FOMO. Despite optimism, weak market signals hint at a potential price drop. The post XRP ETF Hopes Sparks Market-Wide FOMO appeared first on BeInCrypto.

3 Bullish Signs Point to an XRP Price Breakout

XRP could revisit $0.58 as key indicators, including liquidity heatmaps and bullish chart patterns, signal a potential price rebound. The post 3 Bullish Signs Point to an XRP Price Breakout appeared first on BeInCrypto.