Ripple (XRP) Price Correction Looms as Institutions Pull Away

2024-4-8 19:30

Ripple (XRP) price has observed consistent declines for the past couple of weeks in terms of price as well as investors’ interest.

With April underway, this bearishness was expected to subside; however, that does not seem to be the case.

Institutions Divest Ripple

XRP price has had a slow recovery, and in part, this is due to the lack of interest from institutional investors. These large wallet holders tend to sway the price of an asset; however, such is not the case with the Ripple token.

According to the CoinShares digital asset fund flows report, XRP noted only $0.1 million worth of inflows from institutions for the week ending April 5. In comparison, the likes of Litecoin, Polkadot, and even Binance’s BNB coin registered $4.4 million, $0.6 million, and $0.6 million, respectively.

Ripple Institutional Flows. Source: CoinShares

This shows that the payment processor token is losing the support it once had among institutional investors.

In addition to this, retail investors seem to be pulling away from digital assets. This is visible in the downtick observed in the network growth.

This metric estimates whether the project is losing or gaining traction in the market. This is done by measuring the rate at which new addresses form on the network.

Ripple Network Growth. Source: Santiment

At the moment, Ripple’s network growth is at a multi-month low, flashing a bearish signal for the price action.

XRP Price Prediction: A Crucial Level to Hold

XRP price, at the time of writing, is trading above the 38.2% Fibonacci Retracement of $0.81 to $0.47. Marked at $0.60, this Fib level is crucial as losing it would result in a drawdown to the 23.6% Fibonacci level at $0.55.

This is the likely outcome for the Ripple native token as not only the aforementioned conditions, but also the Ichimoku Cloud is exhibiting bearish signals. The Ichimoku Cloud is a technical analysis tool that displays support/resistance levels, trend direction, and momentum.

Therefore, with the candlesticks hovering below the cloud, this can be considered a bearish indication for XRP.

Read More: Ripple (XRP) Price Prediction 2024/2025/2030

XRP/USDT 1-day chart. Source: TradingView

However, if the 38.2% Fib level is flipped into support, the XRP price would have a shot at breaching the 50% Fibonacci Retracement at $0.64. Flipping it into support would invalidate the bearish thesis, sending the altcoin beyond $0.65.

The post Ripple (XRP) Price Correction Looms as Institutions Pull Away appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ripple (XRP) на Currencies.ru

$ 0.5185 (+0.34%)
Объем 24H $1.044b
Изменеия 24h: -1.60 %, 7d: -0.66 %
Cегодня L: $0.5107 - H: $0.5229
Капитализация $28.703b Rank 7
Цена в час новости $ 0.6211 (-16.52%)

institutions price xrp altcoin ripple away pull

Источник: beincrypto.com

institutions price → Результатов: 126


Max Keiser: Buffet’s Right, Bitcoin is Rat Poison and He’s the Rat

As part of a typically-impassioned media appearance, RT’s Max Keiser has once again claimed that Bitcoin will outperform every other asset on the planet in the relatively short term. The presenter and perma-bull believes that institutions wanting to get into the industry will drive the price skywards as they accumulate the necessary inventory to offer.

2019-8-7 02:00


Фото:

Binance CEO: Retail Investors, Not Institutions, Are Leading the Bull Market

Contrary to popular belief, retail investors are still playing a major role in directing Bitcoin’s price action, says Binance CEO in a recent interview with Bloomberg. Who’s Really in Charge? As Bitcoin briefly touched $20,000 in early 2018, market analysts forecasted that the impending arrival of Bitcoin futures products, a Bitcoin exchange-traded fund (ETF), and the infusion of institutional funding would drive Bitcoin towards $30,000 and possibly $50,000.

2019-7-14 00:16


Bitcoin (BTC) Bulls Likely To Shatter $10,000 As Libra, Institutions Fuel Price Rally

Today’s Bitcoin (BTC) News It is increasingly becoming clear that Bitcoin’s metamorphosis places the world’s most valuable coin as a settlement layer. Bitcoin is a reliable platform from where users can  transmit value across geographical boundaries without denting their pockets as they would through legacy financial institutions. This no doubt is a game changer and […]

2019-6-21 22:22


Will Bitcoin Margin Trading Help Binance and Coinbase Survive Big Banks Entering Crypto?

There’s a shift beginning across the crypto market: institutions are finally entering, and it’s already having a powerful impact on the price of Bitcoin. This also means that the crypto mainstays of the last bull run – such as Binance and Coinbase – are in danger of being decimated by established traditional financial firms with.

2019-5-31 23:00


Sensational Crypto Bull Run Sees VC Chief Triple Down $30,000 Bitcoin Price

By CCN: Kenetic Capital co-founder and managing partner Jehan Chu has said on “Bloomberg Markets: Asia” that he sees the bitcoin price surging to $30,000 by the year’s end. His projection of the bitcoin price comes after major financial institutions and technology conglomerates in the likes of Rakuten, Fidelity, Etrade, and TD Ameritrade have started to build services and infrastructure around the crypto asset market, with JPMorgan going as far as to develop its own digital asset.

2019-5-30 10:39


Bitcoin Looks for 1,100% Gains Over Crypto Assets As BTC Value’s Year-Over-Year Growth Continues

Yes, the price of Bitcoin has topped $8,670 BTC/USD for the first time in 54 weeks and as the coin market cap rises over $22 billion today, the permabulls are continuing to shout from the crypto-rooftops that Bitcoin is not only here to stay, but primed to thrive now that institutions are on the cusp […]

2019-5-27 02:50


Bitcoin Futures: Institutions Went 100% Long as Price Soared to $8K

Data from the US CFTC reveals that institutions on the CME went 100 percent long on Bitcoin futures, potentially capitalizing on yet another impressive green candle in mid-May.   CME: Institutions Went 100% Long on Bitcoin According to information released by the US Commodity and Futures Trading Commission, institutional investors had opened 100 percent long Bitcoin futures contracts as of May 14th.

2019-5-23 18:00


Institutions Are Here: CME Bitcoin Futures Trade Record $1.3 Billion

The Grayscale Bitcoin Investment Trust (GBTC) was trading with an implied Bitcoin price of over $10,000 May 14 as investor interest peaked. GBTC At 30% Bitcoin Price Premium GBTC, which has made 24-hour gains of almost 20 percent, currently trades on the basis of a single bitcoin costing around $10,200 – a full $2300, or almost 30 percent, above average market rates.

2019-5-14 16:00


Crypto Hedge Funds Saw An Average Of 46% In Losses During 2018, Yet Institutions Still Atop Priority List

Crypto Hedge Funds Experienced A Median Of 46% Loss In 2018 Cryptocurrency hedge funds have experienced a median loss of 46% on average in 2018 according to a recent report released by The Block. However, the price of the most popular digital asset fell over 72% during the same period of time. Hedge Funds Register […]

2019-5-13 23:01


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ripple (XRP) Price Rebounds Signaling Bullish Breakthrough

Ripple (XRP) recently rebounded bullishly, hinting at an upward trend. However, encountering resistance, the key question is whether it can surpass these levels today. The post Ripple (XRP) Price Rebounds Signaling Bullish Breakthrough appeared first on BeInCrypto.

Crypto Whales Buy Ripple’s XRP Before Bullish Breakout

XRP price is following the bullish recovery path set by the symmetrical triangle pattern with the help of its whale investors. The post Crypto Whales Buy Ripple’s XRP Before Bullish Breakout appeared first on BeInCrypto.

Ripple’s XRP Faces Risk of Steeper Price Correction

Ripple's XRP price could see some drawdown in the coming days as the altcoin attempts to escape the symmetrical triangle, with minimal support from investors. The post Ripple’s XRP Faces Risk of Steeper Price Correction appeared first on BeInCrypto.

Ripple (XRP) Price Threatened by Investor Pullback: Will It Hold?

XRP price is among the few altcoins that are poised for a drawdown. The Ripple token is facing bearish pressure from the investors, which could trigger a decline. The post Ripple (XRP) Price Threatened by Investor Pullback: Will It Hold? appeared first on BeInCrypto.