XRP Plunges to 6-Week Low as Fading Whale Activity Spells Further Trouble Ahead
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Less than ten days after XRP challenged the $1.55 resistance it suffered an immediate, violent rejection and over the past 24 hours the retracement has intensified, with XRP falling harder than most altcoins. The broader crypto market is also down as BTC slid to $75,000 for the first time in three weeks, highlighting downside risk for token prices and near-term pressure on adoption, DeFi and DEX activity.
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It was less than ten days ago when the popular cross-border token challenged the $1.55 resistance. The subsequent rejection, though, was both immediate and violent.
The past 24 hours have only intensified the retracement. Although almost the entire market is in the red today, with BTC sliding to $75,000 for the first time in three weeks, XRP’s drop is actually worse.
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