CandleFocus Fading Altcoin Dominance Threatens XRP Price as DEX Volume Shrinks By $58 Million
2024-12-20
Author: Content Editor
XRP's price reached a six-year high of $2.72 and saw a surge of 282% in the past 90 days, positioning it as one of the leading altcoins. However, the recent decline in price and DEX volume, along with the formation of a death cross on the chart, suggest challenges for XRP in reaching new highs. The Altcoin Season Index has fallen, reflecting a shift towards neutral sentiment, and the declining DEX volume indicates decreased demand for the token. If the downward trend continues, XRP's price could fall below $2, but a reversal could occur with a golden cross formation, potentially leading to a rally to $2.90.
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