Will XRP price prediction hold as sellers dominate?

Sellers are not helping XRP’s case as more of them have moved to take advantage of the recent increase.experienced a rise alongside the market recently, but data indicates that it has struggled to sustain this upward trend. The positive momentum has been relatively weak due to sellers outnumbering buyers.experienced a notable 5.50% increase in value, rising from around $0.50 to $0.53.

The Relative Strength Index reflected this shift, moving above the neutral line after the price surge, signaling a transition into a bullish trend.However, according to AMBCrypto’s analysis, XRP struggled to sustain this positive momentum. By the end of trading on 21st May, the price experienced a slight decline but remained within the $0.53 range.

As of the current writing, there has been another minor decline, yet the price has still held steady at $0.53. Despite these fluctuations, the RSI has continued to stay above the neutral line, indicating the maintenance of the bullish trend.A noticeable observation on the price chart was the surge in volume on 21st May. However, upon analysis, it became evident that sellers predominantly drove this increased volume.

Data from Santiment indicated that the volume rose to approximately $2.19 billion on 21st May, marking the highest volume seen in over a month and coinciding with a price increase.price prediction, suggesting a potential future decline in price. As of the current writing, the volume stands at about $1.7 billion, with indications that sellers continue to dominate.remained positive. Analysis of the funding rate revealed that it remained above zero, standing at approximately 0.

This suggests that there are more buyers than sellers on the derivative side, providing Ripple an opportunity to maintain a positive price trajectory.Adewale is a full-time journalist at AMBCrypto. While he is increasingly fascinating by the world of blockchain and cryptocurrencies, Adewale holds a degree in International Relations. Besides working on insightful articles that touch upon the crypto-space's hottest issues, he finds joy in supporting Manchester United and Afrobeat music.

Source: News Formal (newsformal.com)

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