The price of XRP dropped more than 5%, erasing its gains from the previous day's launch of the RLUSD stablecoin. This led to significant liquidations of bullish positions, totaling over $15.19 million. The RLUSD stablecoin, despite its successful start with over $53 million in assets, faces stiff competition in the saturated stablecoin market. XRP's retreat may be due to profit-taking after the stablecoin launch and nervousness about the Federal Reserve's interest rate decision. XRP's chart patterns suggest a potential bearish reversal and a risk of further decline in the coming days. However, if XRP breaks above its year-to-date high, more sustained gains could be expected.



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