XRP News Today: Crypto Market Dips 1.08% as Bitcoin and Ethereum Decline 0.97% and 1.05%

The cryptocurrency market has maintained a steady course despite the emergence of mixed statistics. The total crypto market capitalization has dipped by 1.08% to reach the $3.33 trillion mark. The crypto Fear & Greed index displays a neutral position at 50 points, indicating a cautious yet balanced outlook among investors. Bitcoin (BTC) and Ethereum (ETH) experienced slight dips, with Bitcoin recording a 0.97% decrease to reach the $108,090.94 mark and Ethereum witnessing a 1.05% price drop to attain the $2,547.61 spot. The market dominance of Bitcoin stands at 64.5%, while Ethereum’s market dominance accounts for 9.2%.

Simultaneously, Snow Leopard ($SNL), Black Agnus ($FTW), and CATX ($CATX) are the frontrunners among the top crypto gainers of the day. In this respect, $SNL has jumped by 4736.35% to reach $0.0000002853. Additionally, $FTW has recorded a 3589.53% rise, gaining the $0.0000001287 mark. Subsequently, $CATX has touched $0.000005450 after a 1789.54% upsurge.

Reflecting the overall crypto market sentiment, the DeFi TVL has dropped by 0.96%, reaching $115.152 billion. Apart from that, AAVE, the top DeFi project in the case of TVL, has seen a 1.36% decrease to reach $25.867 billion. However, when it comes to a 1-day TVL increase, Tangible has climbed by 64574% over twenty-four hours. Contrarily, the NFT sales volume has jumped by 4.15% as its value has reached $13,879,385. Even then, Courtyard, the top NFT collection, has seen a 17.95% decrease in sales.

XRP, the cryptocurrency associated with Ripple, has been holding steady around $2.26. Despite a slight 0.04% loss, the asset's market cap stands at $133.88 billion, with a significant surge in daily trading volume by over 74.64%, reaching $4.62 billion. The market has also witnessed $10.00 million worth of liquidation of XRP. Technical indicators for XRP show mixed signals. The Moving Average Convergence Divergence (MACD) line briefly crossed below the signal line, suggesting early signs of weakness or a possible correction. The Chaikin Money Flow (CMF) indicator settled at 0.14, indicating strong buying pressure. The Relative Strength Index (RSI) stands at 51.92, implying a neutral to slightly bullish sentiment. The Bull Bear Power (BBP) value of -0.0157 signals that bears have a slight edge, which could lead to a minor dip or sideways movement in the price.

The broader cryptocurrency market has shown mixed signals, with all major tokens charted in red. Assets like BTC and ETH are trading on the downside, reflecting the overall cautious sentiment. The frequent oscillation between loss and gain has put XRP in an indefinite situation. A steady upside correction might trigger a bullish rally. The asset’s daily high and low ranges were marked at $2.35 and $2.25, respectively. The four-hour price chart of the altcoin shows a momentary downturn. If the support range of $2.22 fails to hold, the price might face a steady correction on the downside. The bears may initiate the emergence of a death cross, and the XRP price could likely decline below the $2.15 mark. Conversely, if the XRP bulls regain momentum, the price could climb and break the key resistance at the $2.30 level. If the upside momentum strengthens, the potent bulls might target the $2.40 zone. The formation of the golden cross is expected, which triggers a strong bullish rally.

Derivatives data reinforces the bullish sentiment, with POLYX's funding rates turning positive, open interest climbing, and long positions increasing. Indicators show mixed signals with the Awesome Oscillator around 0.74 and a near-neutral RSI of 48.17, while the momentum indicator dips slightly to -0.68. The broader crypto market cap is staying at $3.33 trillion, following a pullback of over 1.04%. As a result, the assets have shown mixed signals, with all major tokens charted in red. Assets like BTC and ETH are trading on the downside. Among the altcoins, Ripple’s XRP has entered the bearish trap, showing a 0.04% loss. The frequent oscillation between loss and gain has put XRP in an indefinite situation. A steady upside correction might trigger a bullish rally. The asset’s daily high and low ranges were marked at $2.35 and $2.25, respectively. XRP’s Moving Average Convergence Divergence (MACD) line has briefly crossed below the signal line. This crossover suggests the early signs of weakness in the uptrend or a possible correction. Besides, the Chaikin Money Flow (CMF) indicator settled at 0.14, indicating strong buying pressure in the market, and the money is flowing into the asset. XRP chart (Source: TradingView) In addition, the altcoin’s daily Relative Strength Index (RSI) is found at 51.92, which implies a neutral to slightly bullish sentiment, neither overbought nor oversold. XRP’s Bull Bear Power (BBP) value of -0.0157 signals that the bears have an edge over bulls. It could lead to a minor dip or sideways movement in the price. The four-hour price chart of the altcoin shows a momentary downturn. If the support range of $2.22 fails to hold, the price might face a steady correction on the downside. The bears may initiate the emergence of a death cross, and the XRP price could likely decline below the $2.15 mark. Conversely, assuming the XRP bulls wake up, the price could climb and break the key resistance at the $2.30 level. If the upside momentum strengthens, the potent bulls might target the $2.40 zone. Also, the formation of the golden cross is expected, which triggers a strong bullish rally.