Ripple’s XRP Turns Into Red Sea

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MARKETS TREND

XRP posted heavy losses at the start of Monday’s trading session. The altcoin was down by more than 5% amid ongoing market correction.

The token traded near the $3 support line and showed buyers stressed signs as short sellers became bolder to break in.

Traders are increasingly assessing XRP’s correction using technical indicators like Bollinger Bands. XRP is getting closer to the top band on the daily and weekly charts, increasing the probability of a pullback. Indicators suggest that there may be significant price fluctuations amid the ongoing market correction.

If the current median supports the price, a 10 percent drop is feasible; if the downward trend continues, XRP could lose up to one-third of its value.

If the appeal was terminated, the uncertainty influencing XRP price trends would be eliminated. On the other hand, if the Programmatic Sales of XRP ruling is successfully appealed, US cryptocurrency exchanges may delist XRP to avoid being subject to SEC regulation, which could lead to more sell-offs.

Consequently, Bitcoin suffered heavy losses in Monday’s trading session. The top cryptocurrency momentarily fell below $100,000, a 4–5% decrease over 24 hours. According to Binance data, ADA and DOGE experienced double-digit losses, while ETH SOL and BNB turned the crypto space into the Red Sea

Trump’s memecoin launch is seen by many analysts and executives in the crypto industry as a sign that the sector will grow significantly under the next president. The launch of the meme coin has been described by others as a political “grift” as many other celebrity meme coins will probably see a sharp decline in value.

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ABOUT THE AUTHOR See More
Olumide Adesina
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.
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