XRP Falls by 4.5% over Altcoin Sell Pressure, BTC Dominance
Ripple (XRPUSD) is down 4.52% to $1.40 over 24 hours, significantly underperforming Bitcoin, which is slightly positive, primarily due to a lack of buying support.
XRP has upside potential as the coin has hit an oversold region, but capital rotation into Bitcoin keeps its price tight amid the recovery in the crypto space.
Trading data from crypto exchange revealed that XRP trading volume fell 46% to $7.91 billion, suggesting a lack of new buying interest to counteract the selling.
The crypto market is heating up with persistent selling pressure and weak technical structure, with XRP price trading below all major moving averages and RSI in oversold territory.
According to crypto analysts, the broader market sentiment remains in “Extreme Fear,” which disproportionately pressures altcoins like XRP.
The overall crypto market sentiment is at “Extreme Fear” with a Fear & Greed Index reading of 8. In such risk-averse environments, capital often flows out of higher-beta altcoins and into perceived safer assets.
Traders said If selling pressure persists, a retest of the recent swing low near $1.13 is likely. A recovery above the 7-day average near $1.52 is needed to signal a potential trend change.
XRP continues to trade below all its key moving averages, confirming a strong downtrend. The Relative Strength index reading of 35.91 indicates oversold conditions but has not yet sparked a meaningful rebound.
The coin is in a clear bearish trend, a pattern that will reclaim positions when Bitcoin dominance eases and investor sentiment rebounds.
Bitcoin dominance has risen slightly to 58.46%, indicating a defensive market rotation that typically weighs on altcoins like XRP. With the market trend, XRP is facing headwinds from a cautious macro-crypto backdrop where investors are reducing risk exposure.
XRP’s decline is a function of persistent selling within a fearful market, with no visible catalyst to reverse the trend. Technicals point to further downside risk unless key resistance levels are reclaimed. XRP Rebounds on Market-Wide Altcoin Tailwinds Ahead of Fed
