84% Of XRP Sell Pressure Comes From Korea As $2 Looms, Analyst Warns
XRP’s latest downswing has dragged price into a cluster of long-term volume and mean-reversion levels, with one prominent market technician flagging Korea as the epicenter of near-term spot selling. XRP Faces Crucial Support In charts shared over the past 24 hours, trader Dom (@traderview2) said XRP has “reached the 12M rVWAP for the first time this year,” adding that it “really isn’t a level we want to be trading under for awhile.” He warned that if bulls lose that 12-month rolling VWAP, “we are looking at the range low of $2 as the next area of interest,” whereas a swift recovery would....
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There’s already a turn in the tide for XRP, and this has naturally triggered more interest in the digital asset from investors. While there is still selling pressure from bears at this time, the XRP price continues to show bullish tendencies with the possibilities of more returns from here. However, a crypto analyst has warned […]
Crypto analyst Austin Hilton is warning XRP investors about the current market situation in a video he shared on X. He states that the price is under heavy pressure and could still decline further in the short term. At the same time, he notes that the token appears oversold, which suggests a potential rebound may […]
Big bitcoin balance holders, or "whales," are moving less crypto onto exchanges, signaling some reduction of sell-side pressure, according to CryptoQuant.
Caving to pressure from retail traders, South Korea's ban on short-selling has been extended through May 2021.