Ripple's XRP price has dropped to $2.04, losing 4% in a day and 9% over the past week due to the overall decline in the crypto market. Despite this, XRP whales have been accumulating large amounts of the token since the recent crash. Short-term traders have been selling off their XRP holdings, but whales have absorbed this selling pressure. There is a possibility of XRP dropping to $1.60 if it breaks below current support levels. Crypto traders have adjusted their stances, with one closing all hedge shorts on XRP. The broader crypto market has lost significant value this week, impacting Bitcoin and altcoins. XRP and other digital assets are facing downward pressure as risk appetite weakens. Analysts are divided on whether XRP can regain bullish momentum, but whales continue to bet on a recovery. The next few days are crucial for determining XRP's trajectory.



Other News from Today