Bloody week for XRP holders as the crypto asset nosedived over 12% in seven days, and the bleeding hasn’t stopped there, with a further 5% drop in the last 24 hours. Bearish signals are flashing across the charts, suggesting this dip could have more room to run.
The Directional Movement Index (DMI) is screaming “downtrend,” with the Average Directional Index (ADX) rocketing to 47.14, a significant jump from 25.43 just the day before. An ADX above 40 is basically market code for “buckle up, things are moving fast,” and in this case, it’s pointing straight down.
Breaking down the DMI, the +DI (upward pressure) has plummeted from 20.13 to a mere 5.76, while the -DI (downward pressure) has surged from 8.97 to 33.77. These numbers aren’t just dipping toes; they’re diving headfirst into bearish territory, showing sellers are firmly in control.
Adding fuel to the fire, XRP’s 7-day active addresses have cratered. After briefly hitting a high of 1.22 million on March 19, a figure that hinted at a bustling network, activity has since collapsed by over 70% to a mere 331,000 active addresses. That’s a lot of tumbleweeds rolling across the XRP network.
Exponential Moving Average (EMA) lines confirm the bearish momentum, aligning in a way that suggests short-term price action is weaker than the longer trend. If this continues, $1.90 is the next key support level to watch, and breaching that could send XRP spiraling towards $1.77.
On the flip side, for any bulls left in the ring, reclaiming $2.22 resistance is the first hurdle to overcome for a potential trend reversal. Clearing $2.47 and then $2.59 would be needed to signal a more serious comeback.