Ripple whales are back in the headlines for buying in bulk, yet XRP prices continue to fall, causing investor concern.
Current XRP Situation
Ripple whales purchased nearly 1 billion coins after a 25% price surge towards $3, but the next day, the price dropped by 13% to $2.31. Trading volume decreased by 30% to $13.9 billion, and XRP futures open interest fell by 23% to $3.16 billion.
Reasons for Crypto Market Decline
The crypto market decline is attributed to US tariffs on Mexico and Canada, along with overall economic instability. Donald Trump's announcement on including XRP in the US reserve asset caused only temporary excitement, leading to a sell-off.
Cryptocurrency Prospects
The ongoing legal battle between Ripple and the SEC may prolong, affecting investor sentiment. Experts highlight the importance of the $2.40 support level, below which prices could dip to $2. Despite long-term optimism, analysts warn of risks falling below $2 if the bearish trend persists.
Short-term interest spikes in XRP are followed by market volatility. Investors should watch key support levels for future developments.
