XRP is down, and the reason is this!
Dear viewers, do you know why XRP has recently dropped by 6%? The reason is that Ripple plans to release 1 billion XRP tokens on January 1, 2025! With so many tokens hitting the market, the number of sellers will increase, and naturally, the price will drop.
Moreover, the Federal Reserve is also in a tough spot; they have lowered their expectations for interest rate cuts, which has made the financial market even more uncertain. Risk assets like XRP are most affected by this uncertainty, and the price becomes unstable as a result.
Just look at how badly XRP has dropped these past few weeks; all the gains from before are almost gone, and it can’t even hold above $2 now. Investors are panicking, fearing that the price might continue to fall.
In fact, the reason for this drop is not just that Ripple is releasing tokens, but also the impact of the entire market environment. When the Federal Reserve adjusts its policies, the entire financial market is shaken, and cryptocurrencies like XRP are no exception.
However, analysts have said that XRP may be in a correction phase right now, similar to early 2024. If it can get through this tough period and break the resistance level of $2.73, it might rebound to $3 or even hit a new all-time high! But this all depends on the market's conditions; we can only wait and see.
For the next strategic direction, I will guide everyone to target high-profit opportunities in altcoins, especially those with great potential. An expected growth of over 10 times is definitely possible. If you want to make big money in a bull market, like and comment, and I’ll help you plan for the entire bull market!
