The sharp decline in XRP's price has raised concerns about it falling below the one billion payment volume threshold. Despite attempting a recovery, XRP is struggling to regain crucial support levels and is facing resistance near $2.62. The break below the 50 EMA and the decline in on-chain activity indicate a bearish trend. If XRP fails to regain momentum, it could drop further towards $1.60. The lack of a strong recovery phase and investors cashing out suggest market hesitancy. For a bullish reversal, XRP would need to maintain a position above $2.17 and recover the $2.62 support level. However, with bearish signals from technical and on-chain indicators, XRP's future seems challenging.



Other News from Today