XRP Faces Potential Decline Toward $2.50 Amid Weak Investor Confidence, Breakout Above $3 Remains Possible

Key Points

1. XRP’s Estimated Leverage Ratio (ELR) is at 0.36, its lowest weekly close in a month, signaling reduced trader risk appetite.

2. Negative netflows exceeding $222 million since July 29 indicate more XRP is being sold than bought, reflecting bearish sentiment.

3. Critical support for XRP is at $2.71; a breach could lead to a decline toward $2.50, while a breakout above $3 may signal renewed buying interest.

4. Market sentiment and broader crypto trends could influence XRP’s price movement, with current conditions favoring downward pressure.

5. A falling ELR and negative netflows suggest cautious investor behavior, impacting XRP’s price stability.