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Traders prefer surging markets over range-bound ones. When there is ambiguity regarding the next directional move, traders may take a step back, which appears to be the situation right now. On-chain analytics firm Santiment points out"fear and indecision" as Bitcoin’s on-chain activity plummets to historic lows. Traders have dramatically slowed transactions, but this might not necessarily be a sign of further price dips. In the case of XRP, which has been steadily declining since peaking at $0.57 on May 6, the price appears to be constrained to a range. adds to the speculation around XRP price behavior.
On the other hand, selling in the crypto market may drive the XRP price to $0.46, where support is expected.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
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Source: FXStreetNews - 🏆 14. / 72 Read more »