XRP is under pressure due to poor demand and growing supply.
Despite the SEC dropped its appeal against Ripple, XRP's price and on-chain activity have remained stagnant.
If demand drops, XRP's expanding supply might lower its price.
XRP may fall below $1.35 if a Head and Shoulders pattern is confirmed.
On Friday, macroeconomic variables including US President Donald Trump's tariff threats and increasing prices drove Ripple's XRP down 7%. If XRP's on-chain activity doesn't increase with supply, negative pressure might increase.
XRP on-chain indicators remain silent as supply rises.
XRP, like other cryptocurrencies, has fallen 35% from its January high of $3.40 due to Trump's tariff threats. In comparison, it rose over 500% in the fourth quarter of 2024 and early January.
The US Securities and Exchange Commission (SEC) abandoning its appeal against Ripple did not boost XRP prices either. Investors had already factored in the conclusion as the new SEC administration dropped many crypto company lawsuits.
