XRP's positive trend was briefly halted as it saw a significant decline that had not been witnessed in the past six months.
has retraced following its recent uptrends, during which it ascended significantly into the $0.6 price zone. Additionally, there was a notable increase in volume, and changes were observed in the total supply in profit over the last 24 hours.experienced a notable price decline, as a daily timeframe chart analysis revealed. The chart showed the price starting the trading day at about $0.64, but after an 8.6% loss, it dropped to about $0.59.
A chart review indicated a significant decline had not been witnessed for over six months. Furthermore, the analysis highlighted that this downturn brought XRP out of the overbought zone, as indicated by its Relative Strength Index .However, at the time of this writing, the price demonstrated a recovery, experiencing over a 3.8% increase. It had returned to the $0.6 range, trading around $0.61.
Additionally, the RSI, which had fallen below 60 during the price decline, was now close to 60 at the time of this writing.volume metric revealed sharp spikes and declines over the past few weeks but a consistent uptrend in the last 48 hours.volume surged to about $4.02 billion. In the current update, it was around $4.3 billion, with indications on the chart reaching as high as $4.9 billion.
The supply in profit chart showed that around 84 billion XRPs are currently in profit, compared to almost 90 billion before the price drop. Furthermore, an examination of the 30-day Market Value to Realized Value ratio reveals fluctuations. As of 4th March, theAt the time of this writing, it has rebounded to about 5%, indicating a dynamic market response to recent price movements.Adewale is a full-time journalist at AMBCrypto. While he is increasingly fascinating by the world of blockchain and cryptocurrencies, Adewale holds a degree in International Relations.
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