Bitcoin Stuck at $67,000, XRP Experiences Short-Lived Surge
Bitcoin's price continues to fluctuate around the $67,000 mark, struggling to regain the $68,000 level. While this prevents significant losses, it also indicates a lack of upward momentum. In contrast, XRP displayed a temporary rise of 10%, reaching $0.66, before succumbing to profit-taking and retreating towards the $0.60-$0.58 range.
So, Should You Buy XRP?
Several factors contribute to XRP's uncertain short-term future. The recent decline in developer activity, a key indicator of project health, coincides with stagnant daily active addresses. Furthermore, broader market anxieties surrounding the Federal Reserve and potential Bitcoin selloffs are dampening investor risk appetite. This confluence of events increases the risk of XRP dropping further, potentially reaching the $0.58 or even $0.51 price bands.
As a bonus detail, the death cross in the chart also supports a downward breakout scenario.
