XRP Price Slumps to Four-Month Low Amid Bearish Market Indicators

The XRP price has experienced a significant decline in recent days, dipping below $1.14 to its lowest level in four months.

Market expert Sam Daodu attributes this drop to the lack of bullish indicators for the altcoin, citing trend structure as a major concern.

Daodu notes that the XRP price is currently trading below its key moving averages, indicating a bearish short-term trend across multiple timeframes.

The weekly exponential moving averages (EMAs) are clustered between $1.50 and $1.78, effectively capping every rebound attempt by buyers.

The 200-day moving average, a dividing line between bullish and bearish regimes, currently sits at around $1.64, which Daodu describes as a 'long climb back' from current trading levels.

On-chain activity adds another layer of concern for the XRP price, with whale withdrawals from Binance at a 4-year low and large-holder accumulation stalling.