XRP faces recurring resistance in market cap, highlighting struggles to maintain higher levels.
Technical indicators reveal bearish sentiment, with weak buying pressure and near-oversold status.
The SEC lawsuit adds uncertainty for XRP, though Ripple’s legal team remains optimistic about appeals.
XRP’s market performance has had its highs and lows this year. Recent data shows a $5 billion drop in market capitalization after failing to break through a key resistance level. XRP’s market cap sits at $29.515 billion, a slight 1.99% increase from the previous day, amounting to an additional of $574.873 million.
However, the $34.306 billion resistance level has been challenging for XRP, leading to a 15.56% dip that wiped out $5.337 billion in value.
Technical indicators provide more context for XRP’s market sentiment. The MACD indicator signals bearish activity, with a negative MACD line around -6.809 million, suggesting weak buying pressure.
Meanwhile, the RSI reads at 44.66, placing XRP in a neutral stance closer to being oversold than overbought.
Recent Price Movements and Volume Surge
The current trading price of XRP is $0.51…
The post XRP Market Cap Drops $5 Billion After Failing to Break Resistance appeared first on Coin Edition.
