Here’s Where Ripple’s XRP Price Could Be Headed This New Week

Ripple’s XRP is entering the new week with a mix of strong headlines and weak price action. Brad Garlinghouse shared that there is a 90% chance a US crypto bill gets clarity by April, which could open the door for more institutional money. 

In Japan, SBI launched a $64.5 million bond that rewards investors with XRP, tying the token directly into a traditional financial product. 

However, the on-chain data indicates that there are $1.93 billion in realized losses, which is a strong indication of capitulation. Historically, such points have been near local bottoms.

Despite those developments, the XRP price is still trading around $1.42, and the chart shows the market is under pressure.

Here’s What The XRP Chart Is Showing

On the 4H chart, XRP has been trending lower for weeks.The chart shows clear lower highs and lower lows. Price fell to $1.11, bounced, and is now trading just above $1.40.

That $1.40 region is important. It is acting as short-term support, and the XRP price has been consolidating there after the latest sell-off. 

If XRP loses this area, the chart opens the door for another move toward the recent low near $1.11. Right now, the market looks like it is pausing rather than reversing.

What the Indicators Are Showing

The net long and net short positioning data shows that short exposure has been gradually increasing. This indicates that the traders are primarily placing their bets on lower prices in the short term.

The CCI is negative, and this indicates that the momentum is still weak but not extreme. There is no indication yet that the strong buyers have entered the market.

The ATR indicator, which indicates the volatility of the market, has normalized from the initial fall. This is when the market is expecting the next big move. The XRP price has slowed down, but there is no indication of the next uptrend yet.

Read Also: Bitcoin’s Deepest Corrections in History: The Real Pain May Not Be Over

XRP Price Targets to Watch This Week

If XRP stays above $1.40, the next levels are $1.55 and $1.70.Above $1.70, the price may move to $1.90-$2.00.

But if XRP goes below $1.40, it may go to $1.25. After that, $1.11 is the next level of support. If it breaks below $1.11, it will indicate a further decline.

For now, the XRP price is at a decision point.The strong headlines of regulation and institutional actions are shaking things up in the background, but the charts still require confirmation before a genuine recovery can start.

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The post Here’s Where Ripple’s XRP Price Could Be Headed This New Week appeared first on CaptainAltcoin.