XRP Price Under Pressure: ETF Outflows, Holder Losses, and a Possible Rebound
XRP faces selling pressure amid ETF outflows and short-term holder losses, but oversold indicators hint at a potential technical rebound.Summary
XRP is currently struggling under a month-long downtrend, with bearish sentiment reinforced by recent sharp pullbacks and negative flows in XRP ETFs, which saw significant outflows recently, reversing prior weekly gains. On-chain data reveals that short-term holders are experiencing deep unrealized losses, reaching levels not seen since July 2022, which paradoxically might reduce immediate selling pressure as incentives to sell diminish. Despite trading below the $1.70 resistance, technical indicators like the Money Flow Index suggest XRP is oversold, increasing the probability of a short-term bounce toward $1.79 if demand improves. However, failure to break resistance could lead to renewed selling pressure, potentially pushing the price down to support levels near $1.54 or $1.47.
(Source：BeInCrypto)