XRP Price Falls To 4-Month Lows—Charts Signal Sell, On-Chain Data Turns Bearish The XRP price dropped sharply on Wednesday, reaching its lowest level in four months at $1.14. This decline coincided with a broader downturn in the cryptocurrency market, with both technical analysis and on-chain data suggesting a more pessimistic outlook for the altcoin. Market expert Sam Daodu highlighted several key factors contributing to the bearish sentiment, including weak trend structures and reduced activity from large holders. Daodu noted that XRP is currently trading below critical moving averages, specifically the 7-day, 14-day, and 30-day averages. This indicates a short-term bearish trend across multiple timeframes. The weekly exponential moving averages (EMAs) remain clustered between $1.50 and $1.78, acting as a ceiling for any rebound attempts. Even when XRP temporarily rises, buyers have struggled to push the price above this resistance band. The 200-day moving average, a significant benchmark for long-term trends, is positioned at approximately $1.64. Daodu described this level as a dividing line between bullish and bearish conditions. At the time of writing, XRP was trading near $1.17, meaning a substantial recovery would be required to regain a more favorable trend. He emphasized that the current price levels suggest a "long climb back" to reach this key reference point. On-chain activity further reinforced the bearish outlook. Whale withdrawals from Binance, often seen as a sign of bullish intent due to large holders moving assets off exchanges, have plummeted to a four-year low. Over the past 30 days, whale withdrawals totaled roughly 978 million XRP, the lowest figure since 2021.#xrp #binance #cryptoquant #clarity_act #sam_daodu
