XRP Price Facing Selling Pressure, Drop Below US$1.30 Possible?
XRP’s recent price action indicates that the crypto asset is experiencing a period of profit-taking. After reaching its three-year high of US$1.63 on November 23rd, XRP began a rapid decline.
Currently, XRP is trading at US$1.41 – representing a 13% correction from its recent peak.
On-Chain Data Shows a Spike in Realized Profits
Data reveals a significant increase in so-called "profit-taking" activity on on-chain. This indicates that many XRP holders are selling their holdings and securing gains from the recent rally. This action by long-term holders affects the overall price.
It*s important to note that this does not necessarily spell doom for XRP.
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Why Are We Seeing This?
There are
natural dips after a
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This could send the price back down to the US$1.30 mark or even lower.
The Gaffew
It’s crucial to remember that this sell-off is not unexpected. Following a substantial price increase, some profit-taking is to be expected.
While there’s
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Could XRP’s price recover?**
As the market cools off. You want to join Hedge?
What do you think about the future of XRP price?*Share your thoughts
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