XRP prices have recently declined due to several factors:
1. Technical correction: After reaching key resistance levels, investors began to take profits. Technical indicators such as RSI showed a weakening of the upward momentum, leading to a price decline.
2. Delays in regulatory decisions: Ripple planned to launch the stablecoin RLUSD, but delays from regulators caused disappointment among investors, which negatively impacted the price.
3. Sales by large holders: "Whales" sold significant volumes of XRP at price peaks, leading to the liquidation of long positions and additional pressure on the market.
4. Overall situation in the cryptocurrency market: Bitcoin's rise diverted investments away from altcoins, including XRP, which also affected its dynamics.
In the coming days, the key support level for XRP will be $1.96, and to resume growth, it needs to overcome resistance at $2.58.