$ETH

Ethereum (ETH) Riding Ultra-Bullish Wave, Will XRP Lose $2? Possible, Shiba Inu (SHIB): Full Market Reset

As the asset fails to sustain momentum above its recent breakout levels, XRP is once again under pressure. A drop below $2 is no longer out of the question as the bullish wave is showing signs of exhaustion after a promising surge that propelled XRP past multiple important moving averages and its descending trendline. The daily chart shows that XRP is currently down 2.25% in intraday trading at $2.49.

Although the momentum has obviously slowed, it is still technically above the breakout zone. A major factor in long-term price movements, volume has been sharply declining, which suggests waning buying interest.

A liquidity bleed is more likely as a result of this lack of participation since even slight sell pressure can set off a chain reaction of losses. The U-turn pattern that formed at the rally’s peak is a more concerning finding.