Dech Cross analysts analyzes the XRP price with increased exchange flows star-news.press/wp

The XRP price is trading at $ 3.01 today, August 4, with an increase of 5.11 % in 24 hours. Despite the gains, the death cross appeared MVRV. At the same time, the exchange flows rise, a step that draws the question now: Are it still 4 potential dollars? Let’s explore.

Analyst deat Cross, although the XRP price increased by 5 %

XRP may be acquired today due to the risk of high rates of September, but the opposite wind is still. Analyst Ali Martinez notes that the market value of the achieved value (MVRV) has created the death cross. This signal can be seen with a 50 -day SMA movement under SMA for 200 days.

MVRV explains whether holders are sitting on profits or losses. Currently, the intersection indicates that those who bought XRP in the past 50 days see less gains than their owners in the long run. When short -term bearers are like this, there is a greater chance they may sell.

While Martinez did not mention this, this cross of death was the reason that the trading price is red. For example, when this happened in mid -May, the price of XRP decreased from $ 2.65 to $ 1.90, less than six weeks.

This means that even with today’s gains, the ripple price is not out of the forest yet. Moreover, this death cross has disturbed some merchants. They have moved coins to exchanges in the last two days.

Data from Coinglass He explains that for five days, the currencies were flowing from exchanges. This changed on Sunday, when Netflows became positive at $ 27 million. Today, the trend is still the same, taking into account the $ 15 million flows at the time of the press.

This means that in two days, there were 44 million XRP going to exchanges. These coins were not in the picture even during last week’s decline. This means that the price of XRP may continue to bleed.

The upper style shows $ 4 is still likely to defend bulls for support

Last week, Coingape reported that the price of XRP could reach $ 4.70. Now, the signs have appeared to show that even with the opposite winds, $ 4 remains a potential goal to reach Ripple. This is due to two things: the softening of the fall and the support of the company.

Fallen wedge is the most dependent. It shows that the declining trend is not strong. In this case, the ripple price may be due to gains. This pattern, a 24 % increase, indicates that XRP may reach 4 dollars if buyers come now.

There is also the fact that the XRP bulls are making an effort to keep a price of $ 3. However, their fist may be fragile because the entire market is not acquired. What this means is that unless XRP reaches 78.6 % Fibonacci with a value of $ 3.22, the bears have a gap that can be used.

The ADX line is also the other reason that makes the bears anxious. When you decrease as you do at the present time, it appears that the decline in the fall of the fall is weak. Thus, the XRP price may avoid the MVRV incident. This also makes 4 dollars a possible goal to reach it.

<!–

–>

Welcome

Muthoni Mary is an analyst and writer in the experienced encryption market that has more than three years of experience deciphering Blockchain trends, price movements, and market dynamics. She holds a Bachelor’s degree in (Financial) Trade from Kenyatta University, and mixes the strong academic basis with the sharp eye of technical analysis and a deep understanding of the data on the series. Its work provides clear data -based visions that enable investors to move in the area of advanced digital assets with confidence. When the market does not analyze, Mary has reading and traveling.

<!–

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

–>

Why confidence: Coingaape: Coingepe has covered the coded currency industry since 2017, with the aim of providing useful visions to our readers. Journalists and analysts bring years of experience in market analysis and Blockchain technology to ensure realistic accuracy and balanced reports. By following our editorial policy, our book is achieved from every source, and verifies each story, and they depend on the reputable sources, quotes and media properly. We also follow a strict review methodology when evaluating exchanges and tools. From Blockchain projects emerging and launching operations to industry events and technical developments, we cover all aspects of the area of digital assets with a fixed commitment to the relevant information in time.

Leave responsibility: The content and the personal views of the author and the current market conditions reflect. Please do your own research before investing in encrypted currencies, because the author and the post is responsible for any financial losses.

AD disclosure: This site may feature content with care and subsidiary links. All ads are clearly marked, and advertising partners have no effect on our editing content.