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US markets started the day positively, but the price of <a href="https://en.coin-turk.com/low-volatility-in-the-cryptocurrency-market-bitcoins-volatility-drops-to-record-lows/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> is finding buyers below $27,500. Altcoins are losing ground. Although the price of <a href="https://en.coin-turk.com/unique-application-in-the-spot-bitcoin-etf-race-hashdex-files-with-a-different-approach/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> has increased compared to September, altcoins have partially returned their gains. With the increase in BTCD, it is observed that investors are avoiding risk. So what are the reasons for the drop in XRP Coin and what are the price expectations?
<h2 style="text-align: justify" id="why-did-xrp-coin-drop">Why Did XRP Coin Drop?</h2>
Over the years, many altcoins have entered and exited the list of the top 10 cryptocurrencies. However, despite challenging bear markets, XRP Coin managed to stay strong and maintain its position. Although it did not show the expected performance in the bull market of 2021 due to SEC pressure, the summary judgment victory in July increased hopes.
Today, the price of XRP Coin is at $0.494 with a 1% decrease. With weekly losses reaching 5% and the price falling to a critical support level, concerns are increasing. <a href="https://en.coin-turk.com/paypal-introduces-new-cryptocurrency-token-supported-by-paxos/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto</a> investors have reduced their risks in altcoins due to concerns that rising tensions between Israel and Palestine could lead to a negativity similar to the 2022 Russia war.
On the other hand, there has been an increased demand for traditional safe havens such as US Treasury bonds and gold. Crypto’s sudden reactions to geopolitical conflicts have generally been in the form of a drop. For example, when the Russia-Ukraine conflict broke out on February 24, 2022, the cumulative value of the cryptocurrency market dropped by double digits.
<img decoding="async" class="size-full wp-image-265130 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/10/XRP-Coin-Balina-Hareketleri-.png" alt="" width="667" height="248">
On the other hand, panic transfers specific to XRP Coin are noteworthy. According to data compiled by Whale Alert, 60 million XRP were moved between wallets. Another whale transferred XRP Coin worth over $15 million to the Bitstamp exchange.
<h2 style="text-align: justify" id="ripple-xrp-coin-analysis">Ripple (XRP) Coin Analysis</h2>
Technically, a Bump-and-Run-Reversal (BARR) formation is forming on the XRP Coin chart. BARR is when excessive speculation rapidly drives up the price of an asset, eventually creating a “bull trap.” It experiences a rapid drop below the price trend line, and we can see this for XRP Coin in the chart below.
<img decoding="async" class="size-full wp-image-265129 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/10/XRP-Coin-Fiyat-Tahmini-Guncel.png" alt="" width="1690" height="832">
If the price of XRP Coin follows this formation, we can see a 50% drop to $0.25. On the other hand, if XRP price reclaims the price trend line, it can reach $0.69 with closings above $0.52 and $0.55. The current negativity in the overall market sentiment and the ongoing decline in altcoins support the negative scenario for now.
There is no new development in the lawsuit, and XRP Coin investors can breathe a sigh of relief as the court did not accept the interlocutory appeal request. The jury trial is likely to take place in April of next year, and until then, XRP Coin sales on exchanges cannot be seen as part of an investment contract. Continue Reading: <a href="https://en.coin-turk.com/reasons-behind-the-drop-in-xrp-coin-current-ripple-xrp-analysis-10-october/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/reasons-behind-the-drop-in-xrp-coin-current-ripple-xrp-analysis-10-october/</a>

Reasons Behind the Drop in XRP Coin: Current Ripple (XRP) Analysis – 10 October

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