Factors Influencing the Market

The recent drop in XRP can be attributed to several factors:

Network Activity: There has been a significant decrease in activity on the XRP Ledger, with daily active addresses falling to around 30,000, indicating lower transaction volume and liquidity.

Technical Patterns: Technical analysis points to descending triangle patterns on daily charts, suggesting the possibility of an additional drop of up to 45% if support levels are broken.

Political Sentiment and Regulation: Anti-cryptocurrency comments from influential political figures, such as Senator Elizabeth Warren, have negatively impacted market sentiment towards XRP. $XRP #USHouseMarketStructureDraft