- XRP trades below key moving averages, confirming continued bearish momentum in the short term.
- Despite market losses, XRP holder count has climbed to 6.36M, indicating sustained long term investor confidence.
- Price support near $1.72 holds, but a drop below $1.76 could push XRP to $1.65 or lower if volume remains weak.
XRP’s price action is in a downward trend as market news continues to weigh heavily on its short-term trend. At press time on April 9, XRP was trading at $1.82, a 2.20% decline within 24 hours. Over the past seven days, the asset dropped by 13.50%, while the monthly loss is at 14.79%. The asset’s market cap fell by 2.23% to $106.31 billion.
Trading volume also decreased substantially by 25.50%, totaling to $7.42 billion in the last 24 hours. Despite these declines, the total number of XRP holders has increased to 6.36 million. This metric continues to rise, pointing to sustained long term interest despite current selling pressure.
Technical Indicators Show Continued Weakness
XRP is trading below the 20 day simple moving average of $2.1646, indicating sustained bearish momentum. The Bollinger Bands show this weakness, with price moving near the lower band of $1.7608.
This level shows XRP trading below its middle band at $2.1646 and well under the upper band at $2.5684.
Despite this, a green candle formed in the last 24 hours, suggesting a mild rebound from recent lows. XRP’s volume is at 147.68 million, showing a small uptick. This increase shows renewed trader interest as some investors take advantage of lower entry points.
The Accumulation/Distribution (A/D) line is at 73.85 billion, showing a steady upward trend, despite the asset’s broader losses. These levels suggest that buying pressure continues gradually, even as short term indicators remain unfavorable.
Price Levels and Moving Averages
The 50 day moving average is at $2.02, while the 200 day moving average is at $2.24. This crossover supports the current downtrend and strengthens the bearish technical outlook.
XRP had a high of $1.8454 in the past 24 hours, recovering from a low of $1.7218. This pattern suggests some support near $1.72, though lower highs remain in place. Daily active addresses have declined sharply from 618,000 in March to just 18,000.
This drop shows reduced transactional activity and falling short term interest. However, the steady rise in the total number of XRP holders counters this, hinting at long term investor commitment despite the current volatility.
April 10 Price Scenarios
If XRP rises above the 20 day SMA at $2.1646 with increased volume, it may test resistance between $2.20 and $2.30. A close above $2.00 could indicate strength around the MA50 mark.
However, failure to remain above $1.76 could lead to a drop to $1.65 or even $1.50. Monitoring XRP’s broader market sentiment is essential to predict its short term price movement. Current price supports a projected range between $1.65 and $2.30 for April 10.
