#Crypto IPO Surge#

In recent days, XRP has fallen slightly, losing support at the $3 level. The Ripple token is now trying to re-establish itself above this mark. The Chaikin Money Flow indicator (CMF) has recently dropped sharply, indicating a decline in investor confidence. This suggests that they are pulling funds out of XRP, reflecting growing skepticism about the price dynamics of the altcoin. The sharp drop in CMF is concerning, as outflows may continue if sentiment does not change.
This skepticism is amplifying the recent bearish pressure on the price of XRP. With increasing outflows, the recovery of key levels is becoming increasingly difficult, which could lead to further declines.
The long-term forecast for XRP depends on the change in the net position of HODLers, which has reached a seven-month low. This indicates that long-term holders (LTH) are selling their assets, reinforcing the downward trend. Sales that began in mid-July have intensified in recent days, increasing the downward pressure on the price of XRP.
LTHs, significantly influencing the price of XRP, are reducing their positions. This strengthens the bearish sentiment among holders. As these influential investors cut back their positions, others may follow suit, further driving down the price.
At the time of writing this analysis, XRP is trading at $2.92 and is holding just below the resistance level of $2.95. Bearish sentiment and capital outflows make it difficult to overcome this level. If the trend continues, the downward price pressure will intensify.
XRP is likely to test support at the $2.65 level in the coming days if investors do not change their sentiments. If this level does not hold, XRP risks further losses, which will create additional pressure on the altcoin and its investors.
To recover, XRP needs to hold above $2.95 and break the $3.00 level. If this is achieved, the price could rise to $3.41, which would refute the current bearish forecast and provide hope for further growth.