XRP's recent performance has sparked concern among traders as it faces potential downturns. After a strong rally, XRP's price has dropped over 40% from its multi-year high of $3.40. On-chain data indicates that XRP's Net Unrealized Profit/Loss (NUPL) has entered the "denial" zone, a pattern seen before major declines in 2018 and 2021. Despite supportive fundamentals, such as speculation around Ripple's SEC lawsuit and a possible spot ETF approval, technical indicators suggest a bearish trend may continue. Traders are advised to stay cautious as XRP navigates these turbulent waters.