XRP Price Prediction: Binance On-Chain Data Signals Potential Drop to $1.50

XRP Faces Downward Pressure According to Binance On-Chain Analysis

Recent on-chain analysis from Binance suggests that XRP could be heading for further price declines. The Inflow-Value Band chart, a tool used to analyze the flow of assets into and out of exchanges, is indicating increased selling pressure that could push XRP toward the $1.50-$1.66 range.

Exchange Inflows Fuel Bearish Sentiment

The core of the issue lies in the persistent inflows of XRP into exchanges. This behavior typically signals an intention to sell, increasing the supply of XRP available for trading and subsequently driving down the price. While market sentiment can shift rapidly in the crypto space, this consistent inflow pattern paints a bearish picture for the near future.

$2.30 Resistance Proves Too Strong

Adding to the negative outlook, XRP has repeatedly failed to break above the $2.30 resistance level on the weekly timeframe. This inability to overcome this key resistance reinforces the prevailing bearish sentiment and suggests that buyers are currently lacking the strength to drive the price higher. A break above $2.30 would be a crucial signal for a potential trend reversal, but until that happens, the path of least resistance appears to be downward.

Eyes on the $1.50-$1.66 Support Zone

Given the current market dynamics, the $1.50-$1.66 range is being closely watched as the next potential support level. If XRP continues its decline, this area could provide a temporary floor as buyers step in to accumulate. However, a break below this level could trigger further selling and exacerbate the downward trend. Traders and investors should monitor these levels closely and exercise caution in their trading strategies.

Name	Price
Bitcoin(BTC)	$88,093.07
Ethereum(ETH)	$2,975.77
Tether USDt(USDT)	$1.00
BNB(BNB)	$849.57
XRP(XRP)	$1.92
USDC(USDC)	$1.00
Solana(SOL)	$125.42
TRON(TRX)	$0.282666
Dogecoin(DOGE)	$0.131369
Cardano(ADA)	$0.368315