Currently, XRP is showing a slowdown in its performance, raising concerns among analysts and investors. Let's take a closer look at the current market situation.
Technical Analysis of XRP
Analysis of the weekly XRP chart reveals a lack of clear movements; however, technical support is under pressure. XRP is sitting just above the midline of its Bollinger Bands, but the candles are leaning into that midline from above, indicating a weakening structure over the past few weeks.
Long-Term Trends
The chart also shows a death cross, where the 23-day moving average dips below the 50-day moving average. This classic bearish crossover, though not widely discussed, adds weight to the downside potential.
Future Prospects
Currently, there are no obvious catalysts for XRP's growth. Without upward momentum or strong trading volume, the current path against Bitcoin remains bearish. If things continue this way, the price may drift down toward the lower Bollinger Band.
Under the current conditions, XRP faces negative trends and uncertainty. The market needs to change to restore investor confidence.
