The Truth Behind XRP's Plunge: Market Turmoil, How Can Investors Save Themselves?

Recently, $XRP has taken a big hit, with the price dropping 4.5% in just one day, which is truly alarming. Not to mention, over the past week, compared to other popular cryptocurrencies, it has been left far behind.

The futures market for XRP is really bleak; it can't even manage a rebound. In just three weeks, the open contract volume has dropped by 54%, which is over 2 billion, just gone like that.

The funding rate has turned negative, indicating that everyone is betting the price will continue to fall.

Looking at the reserves of $XRP on Binance, they are also completely still. Since the big drop in mid-December, it seems everyone is hesitant to buy the dip, fearing they might get stuck again.

With the holiday season here, trading volume has plummeted, resembling a roller coaster.

The bulls have all gone to rest, and the price of $XRP can only follow the downward trend.

From a technical perspective, the price movement of XRP is a complete mess. The symmetrical triangle pattern on the daily chart has been broken, which is not a good sign. Next, the price may fall into the range of $1.8 to $1.95, which would be really troublesome.

Looking at the 4-hour chart, XRP has fallen below the 200-day moving average, which is an important support level. The last time it broke below this level, the bulls quickly rallied, but this time, it seems there is no response.

"The price movement of XRP is too weak. If it can't hold the $2 mark, then we need to be cautious at $1.9. I really hope I am wrong, but I feel it will drop further."

Currently, XRP is hovering around $2.07, but there is not much liquidity at this level, making it hard to support the price. If the bulls don't come in quickly, XRP may drop all the way to $1.9.

Bitcoin is also in a tough spot; if it drops again, XRP and the entire market will be in trouble.

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