XRP Faces Downward Pressure: 4 Reasons for Continued Decline

Recent analysis suggests that XRP is experiencing a downtrend, with potential price drops reaching as high as 18%. Here’s why: 1) The chart depicts a bearish descending triangle pattern. This pattern indicates a significant downward movement toward $2.40. 2) Declining daily active addresses suggest reduced transaction activity and cooling demand for XRP. 3) Negative spot taker CVD reveals intensified selling pressure, indicating waning investor demand. 4) A lack of user engagement, as reflected in declining network activity, could contribute to continued price stagnation.