XRP remains a focus for investors due to its technology and use in cross-border payments. However, short-term signals raise concerns among analysts.
Current Market Situation of XRP
Crypto analyst Levi Rietveld noted that XRP is in a state of "clearly overbought" on the daily charts. He points to significant signals that suggest possible sharp corrections, similar to past occurrences.
Impact of Macroeconomic Factors
Rietveld emphasizes that current macroeconomic conditions, including geopolitical instability and Federal Reserve policies, do not support an increase in market liquidity. He believes that under these circumstances, strong capital inflow into the market is unlikely.
Potential Market Manipulations
The analyst also expresses concern about manipulation by major investors, who may be using the current positive dynamics to lure retail traders into long positions, only to liquidate them during a sudden reversal. Rietveld suspects that the current positive momentum for XRP may be short-lived.
Despite positive expectations, short-term risks and macroeconomic influences may negatively impact XRP. Investors should consider current market conditions.
