Down 9.35% in a day, $XRP is trading at 1.19, just a hair above its 24-hour low of 1.18. Honestly, at this point, I'm not as panicked as I was before—the time to panic was when it slid all the way down from 1.31. Now that it's hovering near the low, most of the fear has already played out.
The volume is definitely up: 24-hour trading volume is $161.3 million. Sellers are making their stance clear through volume; this isn't a slow decline on shrinking volume. Holders are probably torn right now: they're afraid of selling at the bottom, but also worried it'll break below 1.18 and fall further if they don't sell.
I'm leaning toward sitting tight and watching for now: 1.18 is right below us. If it holds, at least the price may have found a floor; if it doesn't, there's not much support below. But if it can climb back above 1.24, I'll change my mind immediately—that would mean buyers are back.
If 1.18 doesn't hold, how much further do you think it could fall?
#XRP #Market Analysis
The volume is definitely up: 24-hour trading volume is $161.3 million. Sellers are making their stance clear through volume; this isn't a slow decline on shrinking volume. Holders are probably torn right now: they're afraid of selling at the bottom, but also worried it'll break below 1.18 and fall further if they don't sell.
I'm leaning toward sitting tight and watching for now: 1.18 is right below us. If it holds, at least the price may have found a floor; if it doesn't, there's not much support below. But if it can climb back above 1.24, I'll change my mind immediately—that would mean buyers are back.
If 1.18 doesn't hold, how much further do you think it could fall?
#XRP #Market Analysis