Increased Profit-Taking Could Threaten Further Gains#FedHODL

XRP experienced a dramatic 500% surge in November 2024, fueled by the Bitcoin rally and Donald Trump’s victory in the 2024 presidential election. However, the token subsequently underwent a minor correction, settling between $2.6 and $2.0 before recovering.#DeepSeekImpact

On January 16, Ripple’s asset broke the $3 resistance and reached a new all-time high of $3.41. Since then, the altcoin has been trading within a range, suggesting that neither buyers nor sellers have full control. However, BeInCrypto’s assessment of XRP’s on-chain performance indicates increasing bearish pressure, which could result in a price drop in the coming weeks.$XRP