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The sentiment across the cryptocurrency market is bearish, with major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and other altcoins continuously experiencing bearish momentum following the approval of a Bitcoin ETF. However, despite the price declines in major altcoins, Ripple’s XRP has experienced significant drops in its price. XRP price trading below expectation&nbsp; 
Recently, a cryptocurrency enthusiast noticed common points and made a post on X (previously Twitter) about the decline in XRP’s price compared to Bitcoin and Ethereum. Despite major positive developments in XRP over the past five years, such as legal clarity in mid-2023, it did not perform as expected.&nbsp; 
Although the positive result of the lawsuit impacted XRP’s price initially, but not sustained and continued to experience a fall, indicating underlying issues. It’s crucial to consider broader market dynamics and investor sentiment. XRP’s value seems to be influenced by factors beyond Ripple’s control, potentially related to its market positioning, adoption, or perception compared to BTC and ETH. 
It is also noticeable that in the past 6 months following the judgment and partial win over the Security and Exchange Commission (SEC), XRP experienced a significant drop compared to the top two cryptocurrencies. 
Also Read: <a href="https://news.todayq.com/matic-price-could-bleed-another-8-following-this-bearish-pattern/">MATIC price could bleed another 8% following this bearish pattern</a> Ripple’s Crypto price technical analysis&nbsp; 
According to expert technical analysis, XRP from January 2023 to the present has continuously found support in an inclined trendline, showing strength during this period. Additionally, XRP experienced a low of $0.30 and a high of $0.93 during the partial win over the SEC. 
However, XRP is currently at a crucial level, being in support of this inclined trendline, and the overall scenario and sentiment are bearish. On the daily time frame, it is bearish as it is trading below the 200 EMA (Exponential Moving Average) and 50 EMA.&nbsp; Source: TradingView 
In the upcoming days, if XRP breaks its strong support trendline and closes below $0.52 on a daily time frame, we may see a price drop of over 18% to $0.42. Additionally, as XRP is trading below the 50 and 200 EMA, it appears to be forming a bearish golden crossover. The future trajectory of XRP will depend on whether it can make a bullish move. 
Currently, XRP is trading near $0.54, and in the last 24 hours, it experienced over 2% downside momentum. Looking at XRP over a longer period, in the last 7 days, it experienced over 8% downside momentum, and in the last 30 days, it experienced over 10% downside momentum. 
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XRP on the verge of mega fall if it loses this price level

Todayq News

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