The overall wave of correction in the crypto currency market affected many assets, while one of the most harsh retreats was the XRP. Token, which lost more than 10 %in the last week, hanged under the technical levels and made investors uneasy. The decline of XRP is associated not only with market conditions, but also with some basic factors specific to Token.

R contraction and regulation anxiety in XRP transaction volume

Behind the harsh decline in the XRP price, there is a decrease in the process volume, as well as ongoing legal uncertainties about the Ripple company. The fact that the proceedings between the US Securities and the Stock Exchange Commission (SEC) and Ripple still maintain the uncertainty causes the pressure on the XRP to increase. In particular, the fact that corporate investors are afraid to take steps without clarity limits the upward acceleration of the market.

On the other hand, in recent weeks, a significant slowdown in the purchase and sale activities in the XRP market stand out. Low volume prepares the ground for the sales of the market to lead to harsh price movements. The weakening of support levels also accelerates this process. The fact that XRP is currently trading at $ 2,12 means the alarm level for some investors.

Snow Realization and Technical Print Price Drinks down

The fact that the XRP gained 236 percent in the last year has made profit sales for many short -term investors attractive. Especially in the period when the price increased above $ 2.30, sales caused the upward momentum to break. This wave of sales has led to a further decline of the price with a loss of 2.5 percent in the last 30 days.

The XRP, which lost 2.8 percent in the last 24 hours, has declined over 12.4 percent in the 14 -day period. Although decreases in the market continue, so that the XRP stands out so much indicates differentiation in the perception of investor. According to experts, the $ 2 level is a psychological threshold for XRP. In the event that this level cannot be preserved, the downward trend may deepen.

Nevertheless, the XRP continues to be seen as one of the long -term promising projects. The corporate demand for Ripple’s cross -border payment solutions can re -support the price over time. However, in the short term, both technical indicators and external factors indicate that the XRP should be cautiously monitored.