Analysis of XRP Price is Stable Despite Crypto Market Crash

Bittime - Today, XRP price is stable even though the overall crypto market is experiencing a crash. 

However, even though the crypto market looks sluggish, whale activity and technical indicators signal upside potential.

XRP Trading Volume Drops 33%, XRP Price is Stable

Over the last 24 hours, XRP trading volume fell by 33% and touched $5.2 billion. 

This decline indicates low trading activity, which is often a sign of weak market interest in the asset. 

However, even though XRP trading volume has decreased, it is observed that the price of XRP is stable, especially thanks to the activity of XRP Whales which shows potential.

Read Also: Potential of Ripple (XRP) Technology in Various Industrial Sectors 

XRP Price is Stable, XRP Whale Activity 

The price of XRP is stable even though the crypto market is crashing, influenced by the activities of XRP whales who owns between 10 million and 100 million XRP.

In December 2023, the number of whale addresses hit a low of 292, but recovered to 301 on December 25 before stabilizing at around 297. Then on January 8, the number of whale addresses increased slightly to 299.

However, while these fluctuations indicate a steady interest in XRP, without a stronger accumulation trend, market momentum is likely to remain limited.

XRP Price is Stable, CMF Indicator of XRP Still Negative

Meanwhile, although the price of XRP is stable, Indicator Chaikin Money Flow (CMF), which measures capital flows, showed a figure of -0.07. While still negative, this is a significant improvement from the previous low of -0.24 on January 7.

A negative CMF value indicates that selling pressure is still greater than buying pressure, but a reduction in the intensity of this selling pressure is a signal of potential market stabilization. 

If this CMF indicator continues to rise, this could indicate increased buying interest, potentially supporting a recovery in the XRP price.

Read Also: XRP ETF vs HBAR ETF vs SOL ETF, Which Will Be Approved? 

XRP Price is Stable, Key Resistance Level at $2.35

Source: Trading View

Based on technical analysis, even though the XRP price is stable, the XRP Exponential Moving Average (EMA) line is currently showing uncertainty, without any clear directional signals. 

This shows a balanced market situation so that the potential for upward or downward price movements is still unclear.

If a bullish trend emerges and XRP price manages to break the key resistance level at $2.35, there could be potential for further upside. The next price target is expected to be $2.53 to $2.72, with potential upside of up to 17.6%. 

On the other hand, if the price falls and breaks the support level at $2.13, the XRP price could face further pressure to touch $1.96, the lowest level since mid-December.

Read Also: XRP Price Prediction to Increase in 2025, Here's the Reason! 

XRP FAQs

What is XRP and what is its use?

XRP is a digital asset created by Ripple Labs and designed to facilitate cross-border payments. XRP blockchain technology enables transactions in just a few seconds with very low fees making it ideal for international money transfers and micropayments.

What is the Difference Between XRP and Other Cryptocurrencies Like Bitcoin?

XRP supports a cross-border payment system with a focus on speed and cost efficiency, different from Bitcoin which functions more as a store of value and investment tool. In addition, XRP uses a consensus mechanism that does not require mining so it is more energy efficient.

How much is 1 XRP USD?

Currently, 1 XRP is worth $2.34 according to Coinmarketcap. 

How to Buy Crypto with Bittime

Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.

Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Additionally, visit Bittime Blog to get various interesting updates and educational information about the world of crypto. Find trusted articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your knowledge in the world of crypto.

Reference

Be in Crypto, XRP Price Remains Stable as Trading Volume Drops 33%, accessed January 11, 2025.

Trading View, Trading View XRP Symbol, accessed January 11, 2025.

Coinmarketcap, Coinmarketcap XRP Currency, accessed January 11, 2025.

Author: IPR