The Ripple token is going through a decisive moment, trading near 1.90 dollars after a 9% drop in the last 24 hours. Although technical indicators suggesting a possible market floor have emerged, the expected price recovery seems to be paused due to the lack of a total clearing of sales. According to the XRP price analysis provided by Ananda Banerjee, the current structure shows capitulation from short-term holders but lacks the necessary strength for an immediate rebound.
On the other hand, the NUPL (Net Unrealized Profit/Loss) indicator for short-term holders has dropped to -0.30, its lowest level of the year. Historically, similar readings in April and June preceded clean and sustained rebounds in the asset’s valuation. This metric signals that most recent buyers are taking losses, a phase where “weak hand” investors are usually forced out of the market by panic or forced liquidation.
However, the missing piece to confirm a solid floor lies in the “spent coins” data. This metric, which tracks the movement of old coins, shows that the current capitulation is not as aggressive as in previous events. While early November saw coin movement spike by 416% during a correction, the cryptocurrencies scenario only registers a 112% increase in spent coins. This discrepancy suggests that the “washout” phase has not yet been completed, leaving room for more drops before finding definitive support.
Is it possible that the price descends to 1.57 dollars before rebounding?
It is fundamental to understand that losing the 1.95 dollar level exposes the asset to a significant danger zone. If selling pressure continues and spent coins rise toward the levels seen at the beginning of the month, the XRP price analysis warns of a potential descent toward 1.57 dollars. Furthermore, the chart presents an additional technical risk: the 100-day exponential moving average (EMA) is moving dangerously close to crossing below the 200-day one, which could act as a short-term bearish catalyst.
To invalidate this negative trend, buyers must act decisively. The price needs to reclaim and close above 2.08 dollars, followed by a consolidation over 2.26 dollars to confirm strength. As long as the asset remains below these thresholds and the spent coins metric does not show a peak of real capitulation, prudence must dictate the strategies of traders in the market. The current scenario demands patience until a total clearing of the floating supply is confirmed.
