Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»BITCOIN NEWS»XRP sinking? Why altcoin prices continue to fall
BITCOIN NEWS

XRP sinking? Why altcoin prices continue to fall

By Crypto FlexsMay 12, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
XRP sinking?  Why altcoin prices continue to fall
Share
Facebook Twitter LinkedIn Pinterest Email

The once booming cryptocurrency Ripple (XRP) is in a precarious position. In the past month, the value of XRP has fallen significantly, leaving investors and analysts in a state of flux.

While some are concerned about a continued decline, others see a potential recovery, with technical indicators hinting at a possible reversal. However, the path ahead for XRP is still shrouded in uncertainty, with the ongoing legal battle with the SEC and broader market sentiment playing a role.

Related Reading

stagnation and waning enthusiasm

The past few weeks have been difficult for XRP holders. The cryptocurrency, which once held the distinction of being the only cryptocurrency to receive explicit regulatory approval in the United States, has fallen more than 5% in the past week alone.

The price fell to $0.49 and then recovered slightly to where it is now, $0.50. This downward trend coincides with a noticeable waning of enthusiasm within the cryptocurrency community. Discussion of XRP has subsided, and the usual “bullish” enthusiasm seems to have died down.

Technical signals and expert opinions

Despite the bleak outlook, there is a glimmer of hope for XRP. Analysts point to technical indicators from TradingView that suggest a potential upward trend.

The chart shows a series of “higher lows and higher highs,” a pattern typically associated with bullish momentum. Additionally, $0.50 appears to be acting as a support level. Whenever the price approaches this point, it rebounds slightly, indicating that some investors see this as an attractive entry point.

These optimistic sentiments were echoed by some experts. Prominent cryptocurrency analyst Dark Defender remains optimistic about XRP’s outlook for 2024, predicting it will surge to $1.80 before the end of the year. A recent poll conducted by Egrag Crypto among approximately 4,000 cryptocurrency community members also revealed mixed feelings.

While a significant number (61%) expressed optimism about XRP’s ability to participate in a future bull market, a significant minority (40%) still felt uneasy.

Total crypto market cap currently at $2.2 trillion. Chart: TradingView

The Cloud Surrounds XRP: The Upcoming Legal Battle

XRP’s path of development is unclear. The ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) continues to cast a long shadow. This lawsuit, which centers on whether XRP is a security, has created uncertainty in the market and undermined investor confidence.

This regulatory ambiguity makes it difficult for institutional investors to enter the XRP market and further undermines XRP’s significant growth potential.

XRP price down in the weekly timeframe. Source: Coingecko

Related Reading

Market sentiment and ripple effects

The widespread bearish sentiment currently gripping the cryptocurrency market is putting pressure on the price of XRP. Cryptocurrency market leader Bitcoin has seen a significant correction in recent months, dragging down many altcoins, including XRP. This creates a domino effect where negative sentiment towards one cryptocurrency spreads to other cryptocurrencies, further exacerbating the decline.

Featured image by Getty Images, chart by TradingView

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Sequans starts $ 384M Bitcoin Treasury Initiative with Swan Bitcoin Partnership.

June 23, 2025

ECB Chairman Lagarde aims to seize the global order to strengthen the Euro’s global position.

June 17, 2025

Bitcoin aims for $ 115K after US CPI data prefers investors.

June 11, 2025
Add A Comment

Comments are closed.

Recent Posts

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025
Most Popular

DeFi Protocol Monthly Fees Drop 24% in August

September 3, 2024

Ethereum Layer 2 developer Taiko announces $15 million Series A round ahead of mainnet launch

March 2, 2024

Grayscale’s GBTC experiences first inflows after ongoing outflows.

May 7, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.