XRP's price is taking a hit due to a combination of factors. One major reason is the massive sell-off after its impressive rally in November, resulting in profit-taking.

Additionally, the SEC's appeal against Ripple-related rulings and the Senate Banking Committee's vote on SEC Commissioner Caroline Crenshaw's renomination have contributed to the decline.

Another factor is the recent offloading of 46 million XRP tokens from the reserve, valued at $24.74 million, which has increased the supply and put downward pressure on the price. Furthermore, on-chain metrics signal a loss of interest in XRP, with declining active addresses and whale transaction counts.

In terms of technical analysis, XRP's price is facing growing overhead pressure, with the Relative Strength Index (RSI) signaling falling momentum. If the bears maintain control, XRP's price could drop by 5% to retest the order block between $0.4927 and $0.5111. #BuyTheDipOrWait $XRP