XRP Price Sends Mixed Signals After 4 Green Daily Closes, Crash Or Rally?

The XRP price has shifted back into bearish territory after a brief bullish momentum on the daily chart. Crypto analyst Master Ananda highlights a concerning trend in the XRP price chart, which could lead to further uncertainty in the short term. The XRP price had recovered after a crash, with four consecutive daily green closes, but lacked the expected spike in volume, indicating weakness. The absence of volume suggests a lack of momentum, which could cause the price to continue plummeting. Resistance is mounting at the 0.382 Fibonacci level, which needs to be cleared with a spike in volume for a price rebound. Otherwise, the price risks falling back down to the 0.236 Fibonacci level, below $2. Data from Coinglass shows that daily volume has remained below $5 billion in June, similar to bear market figures, indicating reduced investor participation. Open interest remains high, with crypto traders actively betting on the XRP price, but the majority are betting that the price will continue to decline. The XRP price could fall further if volumes continue to suffer, and the lack of momentum is a cause for concern.