[XRP’s unexpected price drop causes millions of trading volumes to disappear]
XRP has recently experienced a price drop, falling nearly 2% from $0.61 to around $0.6, while trading volume has dropped significantly. The change shocked traders and investors and raised concerns about XRP’s market conditions and future prospects.
Part of the decline in trading volume may be related to lower market activity over the weekend, but more importantly, XRP failed to break through the key resistance level of $0.61. This resistance level has been a challenge for XRP since the beginning of the year, with the failure to break above this level increasing selling pressure in the market and eroding buyer support. As a result, traders' confidence waned and they pulled out, causing trading volumes to fall further.
Currently, there is little confidence in XRP’s ability to break above $0.61 and maintain upward momentum. As XRP approaches $0.60, the market is watching to see if there is any fresh buying interest.
