What is the current price situation of XRP?

Ripple (XRP) is currently in a retreat phase and has fallen an additional 19% since October 27.

According to the latest report from Coinphoton, late investors are bearing most of the pressure from this correction and are currently in a state of loss.

The NVT ratio falling indicates that XRP is undervalued compared to the actual onchain trading volume. However, this does not bring much hope for investors, as the price movement still shows that the bears are dominating the market.

Source: TradingViewAnalysis on the weekly chart reveals some notable points about XRP's price action. Most notably, the oscillation structure on this timeframe still maintains an upward trend, with the oscillation points marked at $0.486 and $3.4.

A higher bottom at $1.61 has appeared, becoming an important threshold that bears need to break to shift the weekly structure to a downtrend.

The Fibonacci retracement levels, determined based on the most recent upward movement, have signaled a warning for long-term investors as the 78.6% retracement level at $2.28 has been breached by the bears.

The RSI indicator has fallen below the neutral threshold of 50, reflecting that the bearish momentum is prevailing. Although the OBV indicator has not decreased significantly, this is just a small plus for the bullish argument of XRP.

XRP bulls attempt to maintain price above $2

On the daily chart, the $2.7 area is identified as a key supply zone for XRP, forming after the plunge on October 10 and maintaining its resistance role since then. Although the price has tested this area multiple times, it has not been able to break through.

Source: TradingViewThe structure on the daily frame is currently leaning towards a falling trend, with $2.06 as the key pivot point. If a trading day closes below this level, the falling trend will be confirmed.

However, until that happens, there is still a faint glimmer of hope for the bulls.

Source: TradingViewThe H4 chart emphasizes the importance of the $2.06-$2.15 range as a defensive “fortress” for the bulls. XRP needs to recover from this area to maintain the recovery outlook. This is also an attractive buying opportunity with a clear stop-loss point. With liquidity concentrated at $1.97-$2.01, traders can place stop-loss orders just below $1.97 when entering long positions.

If the closing price of the session falls below $2.06, or closes below $1.97 in the 4-hour session, the bearish trend will be reinforced. At that point, traders should switch to a short position and look for shorting opportunities.

Mr. Gia