The stressful situation still seems far from over for XRP, the fifth-largest cryptocurrency by total market capitalization. XRP, which has risen relatively with the positive preliminary decision taken in the SEC case, is now having difficulty maintaining this rise. Although the XRP price decreased by 0.1% in the last 24 hours, the real decrease was observed with 10% in 7 days. The latest situation of the XRP price worries investors.

XRP Price Latest Status

The XRP price dropped 10% over the weekend alone, triggering a general panic. The end of the recent positive activity has a great impact.

XRP's 7-day trade volume reached up to 3.9 billion dollars and the court decision was very effective in this. However, as expected, the lack of good news led to calm waters for XRP. Since then, volume has been falling, reaching $1.1 billion in the last week. Volume in derivatives markets reveals a similar picture.

It is known that open positions in #Ripple focused futures contracts reached 1.19 billion dollars, the highest in two years. After this value was seen on July 20, the decline accelerated and a decline to 780 million dollars was observed.

Why Did XRP Price Drop?

The excitement brought by the good news for XRP is ending and this situation will continue to intensify unless new news comes. XRP, which is still at a 31% higher price level than before the court decision, reveals that it has of course fallen by losing $ 0.91. However, it can be said that the XRP price is currently at a more stable and balanced point. The court-ordered rise to $0.91 was replaced by a healthy support of $0.61.

The number of transactions on the XRP network is also around 1.2 million per day, and in fact everything points to last year's average. In this case, it can be thought that with new news, $ 0.61 will be a critical support and the rise may come faster.

The next process for #XRP is very critical. If the $0.61 support is lost, there may be a decline to $0.40 again. Despite this, XRP has a chance to move towards $1 with new news or the continuation of the bull.$XRP

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