XRP's future price movements may face challenges, potentially causing it to dip below $1.60. Firstly, XRP is seen by many as an older cryptocurrency without significant innovation or new applications. While it is often compared to Bitcoin for its payment utility, its use case might not be enough to keep up with newer, more exciting coins in the market. Secondly, there are circulating rumors regarding Ripple’s internal issues, including unverified reports of staff arrests. Even though these claims are not confirmed, the spread of such news can damage market sentiment, with investors often reacting more quickly to negative reports than positive ones. Another factor is the historical resistance level for XRP at $1.90, where many early investors are likely to hold on to their coins, waiting for higher prices. This psychological resistance could prevent XRP from breaking through those levels, especially when Ethereum has yet to hit new highs. Additionally, XRP's market capitalization is already high, and sustaining a sudden price surge would require considerable effort from market makers. Lastly, the recent positive news surrounding XRP may have already been priced in, with the surge in value likely to be driven by short-term speculation rather than long-term demand. This could lead to a correction or further downward pressure. These factors combined suggest that XRP’s current trajectory might struggle to sustain bullish momentum, making it more likely for it to dip below $1.60.
