XRP on the Brink? 📉 Potential 20% Price Drop Incoming!

Heads up, XRP holders! It looks like XRP might be gearing up for a bit of a dip. 😬

Currently trading 18% below its May peak, some analysts are spotting an inverted V-shaped pattern on the daily chart. This could signal a 20% drop, potentially bringing XRP down to around $1.70. Ouch! 📉

Adding fuel to the fire, the weekly RSI shows a bearish divergence, suggesting downward momentum is building. Plus, on-chain data reveals that daily active addresses and new addresses on the XRP Ledger have been declining. Less activity could mean less demand, which isn't ideal. 😓

One analyst pointed out that XRP broke below a rising channel, with bearish momentum continuing to grow, so keep a close eye on it.👀

Are you keeping an eye on this trend?

Follow for exclusive analysis!

#XRP #TechnicalAnalysis #Crypto #MarketSentiment #Blockchain