From the beginning of June, a significant decrease in the XRP price has been observed. This decline became even more remarkable with the formation of an indicator called “Death Cross ında in technical analysis. Death Cross is a technique indicator formed by the short -term moving average below the long -term moving average and is usually considered as a negative signal in the market.
Technical indicators and price movements
This pressure on the price of XRP led to an increase in uncertainty in the market. Following the formation of Death Cross, a downward trend was observed on the price and some of the investors turned to sale. However, there is no consensus as to whether the current technical signal will always mean a long -term decrease.
Experts say that technical indicators such as Death Cross point to the decrease in prices in some assets, but may not fully reflect all the conditions and investor behaviors in the market. For this reason, beyond short -term signals, it is pointed out that the general dynamics of the market and the movements of investors are also an important role.
Purchase transactions of big investors
Nevertheless, the “whales known as the big investors in the market continue their purchases for XRP. It is reported that 190 million XRPs have been purchased by large wallets in the last week. This indicates that some investors consider low price levels as an opportunity.
According to Coings analysis: “Whales increased their purchases in a short time despite the price pressure and purchased a total of 190 million XRP.”
The continuation of large volume purchases may have the potential to determine the direction of the market. The purchase of large investors is often perceived as high confidence in the market, but can also cause sudden fluctuations in price movements.
Price estimates and possibilities
It seems difficult to make a definite guess about how the XRP price will follow in the coming days. While technical indicators give negative signals, the purchase of large investors may have a upward effect on the price. Market experts argue that XRP may have the potential to recover again despite the existing pressures in the short term.
Whether the XRP goes down to $ 2 again will be shaped depending on the general tendency of the market and the strategies of investors. In this process, technical signals and investor behaviors will continue to be closely monitored.
Despite the technical signals in the XRP price, the rapid purchase of large investors increases the uncertainty in the market. In such periods, it is important that investors follow both technical analysis and market dynamics. Developments can create sudden changes on the price, so it is recommended to act cautiously in the crypto currency market.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
