👀 The price of XRP is at risk of falling 45% to $1.20: what is behind the decline?
The price of XRP is showing worrying signs, with a bearish technical pattern forming and decreasing activity on the network, which could lead to a drop below the crucial level of $2.
➡️ Key points:
🟡 Bearish descending triangle: The daily chart of XRP shows the formation of a descending triangle, signaling a possible drop of 45% to $1.20 if the price breaks the support level.
🟡 Decreased network activity: The number of daily active addresses (DAA) of XRP has drastically fallen, indicating weak transactional activity and reduced liquidity, which could increase downward pressure.
🟡 Resistance at $2.18: If XRP fails to recover the level of $2.18, there is a risk of further decline, with the next psychological support level at $2.00. A drop below this level could pave the way for a 45% decline.
📉 What’s next for XRP?
The price of XRP faces a significant challenge, as network activity is slowing down and a bearish pattern is forming on the chart. If the resistance at $2.18 is not broken, XRP could drop to $1.20 by the end of May.
How do you see the price trend of XRP?
👍 – XRP breaks $2.18 and starts to recover
❤️ – Long-term holder, I still believe in XRP
🔥 – Prepare for additional decline, the risk is high
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