The XRP price has fallen nearly 30% this month, entering a bear market after reaching its highest level in January. The decline in price is accompanied by a decrease in daily trading volume and futures open interest, indicating a drop in investor demand. However, there are potential catalysts that could push the XRP price higher in the future, such as the possibility of a Ripple ETF and partnerships in the financial services industry. Ripple has also received money transmitter licenses in New York and Texas. The Wyckoff Theory suggests that XRP is currently in the distribution phase, with the potential to enter a markdown phase and drop to a support level. The bearish view would be invalidated if the price rises above the year-to-date high.



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