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Bitcoin price continues to stay below $66,000, and as expected, the price of XRP Coin has fallen to the $0.58 support level. While investors wait hopefully for further increases, the fluctuation in BTC price has triggered losses in altcoins. The altcoins, retreating from resistance to support levels, have turned red. So, what are the current predictions for XRP Coin?
What Will Be the Price of XRP Coin?
While many cryptocurrencies have made significant gains during the bull market, XRP Coin has not performed as expected. Moreover, the decline in BTC price is fueling disinterest. The 7-day RSI is at 49.5, reflecting the lack of appetite among investors. Considering the weak performance in the first quarter, this is not surprising.
The RSI, which has reached its lowest level since February 28, may indicate that a deeper decline phase has been entered. On the other hand, the metric of daily active addresses for XRP is also signaling a decline. Combining this weakness with the melting investor demand suggests further declines would not be surprising.
From March 7 to March 11, Daily Active Addresses climbed from 29,246 to 37,724. During the same period, the price of XRP Coin rose from $0.61 to $0.72. However, as of March 20, active addresses fell to 26,848. We also saw a decrease from 33,684 to 30,559 in the period from March 29 to April 2. Correspondingly, the price also fell to $0.57.
XRP Coin Price Prediction
In the first section, we highlighted two important data points reflecting investor sentiment. The technical outlook is no different. A death cross formed on the four-hour chart on April 1. This technical formation occurs when the short-term EMA crosses below the long-term EMA (Exponential Moving Averages). It is a harbinger of decline and occurs when losses begin.
The formation, indicating weakened price momentum, signals further losses for XRP Coin investors. If the feared scenario materializes, we could see the price return to the key area of $0.54 and $0.53. If these support levels cannot be maintained, sales could continue down to $0.49.
Conversely, if BTC unexpectedly tests the ATH level and the overall market sentiment reverses, a bounce from the $0.58 support area could raise the price to $0.66 and $0.70.
