Dear friends, have you heard?
XRP has recently dropped sharply by 6%. Why is that?
It turns out that Ripple plans to release 1 billion XRP tokens on New Year's Day 2025! With so many tokens flooding the market, it’s bound to trigger a selling frenzy, causing the price to plummet.
Let's talk about the Fed, which is also a headache. They have lowered their expectations for interest rate cuts, causing the financial market to be like a roller coaster, going up and down. Assets like XRP, which carry a bit of risk, are further affected by this uncertainty, making their prices fluctuate.
Just look at how badly XRP has dropped in the past few weeks; it had finally managed to rise, and now it’s almost back to square one, unable to hold the $2 mark. Now, investors are all anxious, fearing that the price might continue to decline.
In fact, the reason for this drop isn't just that Ripple is releasing tokens; the entire market environment is influencing it. As soon as the Fed adjusts its policy, the whole financial market shakes, and cryptocurrencies like XRP can’t escape either.
However, some analysts are quite optimistic. They say XRP might just be in an adjustment phase, similar to early 2024. If it can get through this tough time and break through the resistance level of $2.73, it might rebound all the way to $3, or even set a new all-time high! But all of this depends on the market's mood, and we can only wait and see.
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