In the past 24 hours, the price of XRP suffered a "small Waterloo", falling by about 5% and finally closing at around $2.164. This wave of declines has brought XRP's decline this week to nearly 10%. Although buyers fought back hard and tried to pull the price back, the sellers were obviously stronger. At present, the "iron threshold" of $2.20 has become a difficult hurdle for XRP, and buyers have not been able to successfully break through it. Strong selling pressure caused XRP to fall below the key support level, and the market outlook in the short term was therefore overshadowed. In short, XRP is now a bit like a slide, and if you want to go up, you have to overcome the "mountain" of sellers first.


XRP has been under a lot of pressure recently. Strong selling pressure surged like a tsunami, pushing the price into a corner. The doubled selling volume made the $2.19 resistance level as hard to pry open as a steel plate. Bulls tried to break through $2.179, but were beaten back every time they raised their heads. The scene was a bit embarrassing.

Worse still, there was another wave of “ruthless” selling earlier in the day, pushing XRP directly to a low of $2.162. It is currently struggling slightly around $2.164, looking like it is taking a breath and preparing to fight again. Now everyone is watching the key support of $2.147 - historically buyers always jump out here to “rescue the coin”. Whether they can continue to hold on depends on whether they are willing to sell this time.

Analyst BullnChill reminds everyone to pay attention: the recent trend of XRP is a bit "weird" - on the one hand, the trading volume is rising, while on the other hand, the price is falling. This "large volume decline" phenomenon often indicates that market sentiment is quietly changing, bulls are a little guilty, and bears are gaining ground.

From the technical chart, the market needs some "passion" to stop falling and rebound. But the current momentum is weak, and the difficulty of rebounding is comparable to landing on the moon. The hourly chart has drawn an obvious "downhill slide" (also called a descending channel), which means that bears are in control in the short term, and prices may continue to fall.

In other words: Now is the time for the air force to show off, bulls please don’t get too excited for the time being.

The culprit of XRP's decline is revealed: ETF is difficult to launch + global situation is turbulent, Ripple is caught in the crossfire!

XRP has fallen a bit recently, and everyone is asking: Who is stabbing in the back? The answer is actually a combination of familiar faces - bad market sentiment, negative regulation, and geopolitical crises, all of which have appeared one after another.


First of all, the US SEC has "delayed its approval" again! They have repeatedly delayed the approval of crypto ETFs, just like a pigeon spirit, saying "see you next week" every day, which has crushed the confidence of the entire market. Especially XRP, as a "hot topic", naturally bears the brunt.


Looking at the international situation, Iran and Israel are full of gunpowder, and central banks of various countries have a vague attitude of "don't believe me", which makes investors panic and hold their wallets tighter. As a result, risky assets have become a punching bag, and XRP has also been hit.


Although Ripple has recently made frequent efforts in the RLUSD stablecoin project and has also expanded its territory to Dubai and Singapore, unfortunately, the market seems to have not yet received these "positive energies". When the mood is low, good news is like shouting in the wind - it cannot be heard.


But then again, the crypto market is always emotional and can change at any time. Although the sellers are in charge at the moment, who knows if there will be a "low takeoff" in the next second? In this chaotic period, investors should stay calm, watch more and do less, and keep an eye on the news. Maybe the next round of rebound is brewing.



In short: Now is the time for the air force to show off, bulls please don’t get too excited for the time being.