#Crypto_Jobs🎯
800 million units of XRP (worth $1.29 billion) to increase the circulating supply, contributing to a price decrease of 2.06% during the day.
Bearish technical signals: XRP price dropped by 12.96% on a weekly basis to $1.59, with the MACD indicator and Bollinger Bands confirming strong bearish momentum.
Selling pressure from major investors: The net outflows reached $3 million, with large sell orders worth $5.4 million, indicating risk reduction and asset distribution by institutions.
Severe fear in market sentiment: Market sentiment reached 18 (severe fear) after massive outflows from exchange-traded funds, significantly reducing overall buyer confidence.
Analysis of the bearish price movement
Trend and support: XRP price is testing the $1.59 level after a weekly decline of 12.96%, struggling to find structural support amid a broader market downturn.
Technical indicators: While the Relative Strength Index shows potential for a historical rebound, current MACD signals and Bollinger Bands remain strongly bearish as market dominance declines to 3.82%.
Liquidity and flows: The net outflows reached $3 million, dominated by large sell orders worth $5.4 million, reflecting a lack of confidence among major investors$XRP
