XRP is testing the $1 price level for eight consecutive days, facing bearish sentiment and declining ETF inflows, despite a surge in on-chain activity. This creates a critical juncture, with technical indicators suggesting a significant price move is imminent depending on whether buyers can defend the $1 support.
XRP has been unable to decisively break above or below the $1 mark for eight days, indicating a significant battle between buyers and sellers. This stalemate is occurring amidst a backdrop of extremely bearish crowd sentiment, which Santiment identifies as a potential 'counter-signal' for bulls, and a notable increase in on-chain activity. However, ETF inflows have significantly decreased, and total net assets in XRP spot ETFs are declining due to price depreciation. The technical chart shows XRP within a descending channel, with RSI approaching oversold territory, suggesting either a relief rally or a final capitulation. The prolonged defense of the $1 level implies a weakening floor, and a 20% move is anticipated once a clear direction is established, presenting both short-term opportunity and risk for traders.