Concerns Over XRP Price Movement
Over the last few days, XRP, the digital token associated with Ripple Labs, has been facing challenges in gaining traction. Market data suggests that this struggle may persist in the near future, as investors and long-term holders navigate through uncertain market conditions.
Bearish On-Chain Metrics
Recent data from the on-chain analytics firm Coinglass highlights a concerning trend in XRP’s spot inflow-outflow metrics. Exchanges have recorded a substantial inflow of $62 million worth of XRP tokens over the past 48 hours. This influx suggests a potential sell-off, which could trigger a price decline and intensify selling pressure in the market.

In addition, the current long/short ratio stands at 0.92, indicating a bearish sentiment prevailing in the market, with short positions dominating the trading landscape.
These metrics are unfolding against a backdrop of XRP’s ongoing price consolidation over the past six days.
XRP Technical Analysis and Price Prediction
Expert technical analysis suggests that XRP remains in a neutral zone until it breaks out of the consolidation phase between the $2.90 and $3.30 levels.

If XRP manages to break above the consolidation range and closes a daily candle above $3.32, it could potentially rally by 32% to reach the $4.50 level in the days ahead. Conversely, a breakdown below $2.85 and a daily close at that level could lead to a 10% decline, targeting the $2.58 level in the future.
On a positive note, the Relative Strength Index (RSI) currently stands at 65, indicating that XRP is nearing overbought levels but still has room for further upward movement.
Current Price Momentum
Despite the prevailing bearish sentiment, XRP is currently trading around $3.25, reflecting a 1.60% increase in the last 24 hours. However, trading volume has dropped by 35% during the same period, indicating reduced participation from traders and investors compared to the previous day.