Is XRP price going to crash again?

The XRP (XRP) price has been recovered from a decrease of $ 1.89 reached on March 11, but it is still trading without a major resistance area. Will the XRP price maintain a recovery or decline in the coming days?

XRP financing rates show firm feelings

One of the clearest signs of more trouble in XRP is the presence of negative financing rates and reduce open interest (OI) in futures markets.

Related to: The role of XRP in Us Digital Asset Stockpile raises questions about the interest of the distinctive symbol – does it belong?

Main points:

• Funding rates are periodic payments that take place between long and short traders in permanent future contracts to maintain prices in line with the immediate market.

• When this scale turns into negative, this means that the open sellers are pushing a long time, indicating that the homosexual feelings dominate.

• XRP financing rates are hovering to less than 0 %, indicating that the landmarks dominate the market.

• Negative financing rates inhibit the new buyers from entering the market, because job jobs become less profitable.

• If this trend continues, XRP may face a sharp decrease as market confidence erodes more.

• Likewise, XRP’s OI in the futures market decreased from its local peak of $ 5.67 billion on January 17 to $ 2.4 billion as of March 18.

• Historically, the assets with a decrease in the struggle are open interest to maintain ascending momentum, and the capital leaves the market.

• For XRP, this may mean that even a simple sale pressure may lead to a series of tangles, especially if the positions learned to the closure are forced.

• Without renewing attention from institutional traders or retail, the XRP price is more negative.

The XRP market structure is alluded upon re -testing $ 1.90

The XRP price on the four -hour graph has drawn V -shape, as shown in the graph below.

Main meals:

• The inverted V -shaped striped pattern occurs when the origin price rises rapidly to a peak at a very slope rise, then falls in the same amount, and it forms a “V.” shape.

• This indicates that the purchase pressure has exhausted.

• The suppliers congestion area operates between $ 2.35 and $ 2.42 as a space of harsh public resistance. This is also where the SMA and 200 SMA is currently sits.

• The RSI (RSI) index has decreased to less than 50 marks, confirming the dominance of sellers on the market.

• Bears will now try to break the support area between $ 2.28, or 50 SMA and $ 2.20.

• The loss of this level will witness a decrease in the price of the XRP towards the neckline for the prevailing graph pattern at $ 2.01.

• The closure below from this level would confirm the continuation of the declining direction, as the next logical step is the region between February 28 at $ 1.94 and the low range at $ 1.89, reached on March 11.

• The bulls should be fixed above 50 SMA to prevent the downward trend from continuing.

• This will increase the chances of XRP to exceed the supply area of ​​$ 2.35 and $ 2.42 and then to the highest level in the model at $ 2.47, leading to voting hippos.

Dark Defender’s famous encryption analyst is still optimistic about the ability of XRP to recover from the declining direction and enter prices.

“The basic correction on the weekly and daily framework and the structure for 4 hours has ended for XRP”, the analyst He said On March 17 on X.

Although there will be more “slight climbing and falling” along the way, and added that Altcoin “started the wave 1 with a goal of $ 5.85.”

Dark Defender’s main levels are support at $ 2.22 as support and resistance at $ 3.39.

“The coming weeks will be great.”

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.