u.today
XRP has lost 6.6% in the last seven days of trading in the cryptocurrency market. This development has triggered speculation about the future outlook of the asset, with some fearing a possible death cross flip. CoinMarketCap data reveals that XRP is not at risk of a death cross.
RSI and whale activity fuel market confidence in XRP
Notably, the technical indicators signal a sustained golden cross setting for XRP. The 9-day and 26-day moving averages are aligned for a golden cross, which could lead to prices reaching $3.34. With this development, it is unlikely for XRP to slip into a death cross.
Additionally, the Relative Strength Index (RSI) of XRP is at 61.71, indicating that the asset remains within a safe zone and is not overbought. Interestingly, XRP is currently in the red zone as per trading volume, which has dropped by a significant 35.95% to $6.26 billion within the last 24 hours.
However, price remains in the green zone and has appreciated within the same time frame. As of this writing, the XRP price was trading at $3.18, representing a 1.52% increase over the period.
The slight upward movement in price might have been triggered by whale activity in the ecosystem. Over the last 24 hours, XRP whales have acquired approximately $415 million worth of XRP, sparking positive sentiment in the space.
XRP and key performance trends to watch
Despite the seeming volatility in XRP’s price in the last seven days, the coin has gained a massive 46.4% in the previous 30 days. It signals that it might close the month of July on a high. Investors remain keen on the coin as open interest continues to rise to new levels this month.
Meanwhile, as U.Today reported, XRP recorded $155 million in inflows, indicating renewed interest in the asset. The influx of funds suggests that investors in the cryptocurrency space are leaning toward altcoins as Bitcoin appears to be stagnating.