XRP price faces downside risks, but there is a possibility of a short-term rebound

Tap the avatar to watch live and catch the bull market!

XRP's price trend indicates that there is significant room for decline. According to the Bollinger Bands indicator, XRP's price may continue to decline, lacking upward momentum at least in the short term.

Recently, U.Today mentioned that XRP could drop to $1, a prediction similar to the price trend in 2018 — after breaking through, the price retreated to the median. Since that article was published, XRP's price has dropped over 3.5%, still carrying the risk of further decline.

Nevertheless, the magnitude of the drop in the short term may not be substantial. The lower Bollinger Band indicates that XRP's price may test $2.103, which is about 3.56% lower than the current price. If support can be found here, XRP may rebound from the decline.

XRP's market capitalization is currently approximately $12.5 billion, with a daily trading volume of $4.67 billion, still firmly holding the position of the third-largest cryptocurrency in the market. Although facing downward pressure in the short term, its market position and strong attention continue to make the future full of potential.

Tap the avatar to watch live and catch the bull market!