XRP is experiencing significant pressure with trading volumes dropping by over 75%, raising questions about its short-term stability.
Current XRP Trends
XRP is currently trading below its 50-day Exponential Moving Average (EMA) while barely holding above its 200-day EMA. The support level at $1.85 has previously acted as a strong barrier, but current developments suggest it may soon fail.
Analysts Warn of Potential Risks
Analysts suggest that if the drop continues, XRP may fall to $1.50 and then to $1.25. The drop in trading volume further confirms decreasing confidence in the token.
Challenges Facing XRP
After resolving the SEC case, XRP is struggling to attract investors hindered by geopolitical uncertainty and economic issues. The lack of inflow and bearish pressure leave the token exposed.
Unless XRP finds new catalysts for growth, it may remain under pressure as traders continue to seek better alternatives.
