XRP price is under pressure again due to recent events in the legal battle between Ripple and the SEC. This raises concerns among traders and long-term holders.
Escalation of Ripple’s Legal Case
This week, Judge Torres rejected a joint motion to settle penalties in Ripple's case, creating new challenges and uncertainties for investors and traders. This ruling negatively impacted the XRP price, pushing it below key support levels.
Decline in XRP Market Activity
Data shows a significant drop in activity on the XRP blockchain. The number of active addresses has fallen, reflecting not only sluggish trading but also overall tension in the market. According to the latest data, daily payments on the XRP network have dropped by nearly 70% this month, indicating a decrease in global demand.
Future of XRP: Predictions and Doubts
The XRP price began trading on a bearish note after a recent rally and oscillated within a descending channel. The drop in trading volume and blockchain metrics suggests the continuation of the bearish trend. Technical indicators show XRP trying to break free from pressure, but the risk of falling to $1.62 remains.
The situation on the XRP market remains challenging due to legal disputes and declining activity. Investors and analysts continue to monitor developments to predict future price dynamics.
