XRP Pricing Looks Better Than Before, But Not Good Enough

XRP’s overall 14-day relative strength index, or RSI, was just around 36 hours in Asian time. This still lies in the neutral zone. However, RSI at 50 is considered XRP has been seeing outflows for the last few days. Therefore, the news of the inflow of XRP was seen early Thursday was a positive welcome. This came right after a record-breaking month for XRP DEX. 

As per Coinglass data, approximately 15 million USD worth of XRP flowed to the centralized exchange on Thursday. Kraken and Bybit were the primary reasons behind this major influx of XRP in the market. 

This influx created major upheavals in the market and led to an overall cascading effect. As of Thursday, the market stood at -0.0065%. This was a notable dip in the overall percentage. The percentage was lower than BTC and ETH.  

A negative percentage usually means that traders who are holding short positions in XRP will be willing to pay a small fee to long position holders in an attempt to keep their bearish bets open.  

XRP Performing Below Average 

XRP trades below several key moving averages with a 10-day EMA (exponential moving average) at $2.84. Along with a 21-day EMA at $2.88. Therefore, trading below these averages might suggest some minor bearish outcomes.  

Meanwhile, the 100-day SMA (simple moving average) is just breaking the 2$ mark. Subsequently, the 200-day SMA is resting at $1.30. Both of these figures are well below the current price. Therefore, some bullish trends can be seen in the long run.  

However, XRP could make a run for the $3 mark. However, to do that, the token must move past the $2.49 and $2.60 levels. If this happens, XRP could recover from the bullish trends that it had in January of 2018. XRP’s overall 14-day relative strength index, or RSI, was just around 36 hours in Asian time. This still lies in the neutral zone. However, RSI at 50 is considered to be the most ideal. Going below 30 means oversold, and 70 means overbought conditions. As a result, XRP’s RSI is still in the safe zone.  

Even though XRP performs better than before, it is still performing average, which might put people on edge. Still, there is no point in panicking, but it should be approached with patience.