XRP price is showing signs of potential decline, with four indicators suggesting caution for bulls.

Firstly, a bear flag pattern has emerged, indicating a possible downtrend continuation. XRP is currently hovering near the lower trendline of this pattern, with its weekly RSI in neutral territory, suggesting further declines may occur. A decisive break below the flag’s lower trendline could lead to a significant drop towards $0.24, down approximately 55% from current levels, by May or June.

Additionally, XRP whales are reportedly dumping their holdings, coinciding with the inflow of millions of dollars worth of XRP into exchanges like Bitstamp. This redistribution of XRP holdings, particularly among whales and crypto exchanges, could further pressure XRP’s price.

Moreover, XRP faces the risk of a death cross formation, where its 50-day EMA is expected to cross below its 200-day EMA, signaling a bearish trend. This, coupled with a head-and-shoulders breakdown pattern, could lead to a price target of around $0.34, down 30% from current levels, by March or April.

Lastly, analysts remain skeptical about the possibility of a spot XRP ETF in the near future, citing ongoing legal battles between Ripple and the SEC as a major hindrance. Without regulatory clarity, the demand for XRP compared to Bitcoin and Ether could be dampened.

In summary, XRP’s price faces several warning signs, suggesting potential downside risk in the coming months. Traders and investors should proceed with caution.