As the new trading day begins, the cryptocurrency market shows a mixed trend overall. The Fear and Greed Index remains at a very low level of 19, reflecting a continued lack of market sentiment. Although Bitcoin (BTC) and Ethereum (ETH) are attempting to stabilize after recent declines, the focus remains on the performance of Ripple (XRP).
XRP has seen a slight increase of 0.52% in the past 24 hours, but the technical indicators still signal multiple bearish trends. According to technical indicators, the MACD (Moving Average Convergence Divergence) and its signal line are both below the zero line, indicating that the short-term trend is still dominated by bears. To reverse this trend, the MACD must first rise above the zero line to confirm a momentum reversal.
Meanwhile, the Chaikin Money Flow (CMF) indicator reads -0.18, showing that funds are continuously flowing out, and the market is in a clear distribution phase with weak demand, leading investors to adopt a wait-and-see attitude. If this indicator remains in the deep negative territory, XRP will struggle to escape downward pressure in the short term.
Additionally, the Bull Bear Power indicator is at -0.0112. Although there has not been a sharp decline, it reflects a lack of clear buying pressure in the market, which is in a weak equilibrium state. If this indicator further declines, it will reinforce the bearish dominance, potentially triggering a new wave of selling.
The current market sentiment is highly sensitive, and any macro news could act as a catalyst for a price turning point. Although XRP shows weak signs of a short-term rebound, it remains to be seen whether the technical indicators are approaching the oversold zone, which will depend on subsequent changes in volume.