{"id":607646,"date":"2024-05-12T17:00:17","date_gmt":"2024-05-12T17:00:17","guid":{"rendered":"https:\/\/uniquehot.com\/?p=607646"},"modified":"2024-07-11T10:33:18","modified_gmt":"2024-07-11T10:33:18","slug":"xrp-on-a-sinking-ship-why-altcoins-price-continues-downward-plunge","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/xrp-on-a-sinking-ship-why-altcoins-price-continues-downward-plunge\/","title":{"rendered":"XRP On A Sinking Ship? Why Altcoin&#8217;s Price Continues To Plunge"},"content":{"rendered":"<p data-sourcepos=\"3:1-3:83\">Once-booming cryptocurrency Ripple (XRP) finds itself in a vulnerable situation. The value of XRP dropped significantly last month, which has left analysts and investors in flux.<\/p>\n<p data-sourcepos=\"3:1-3:83\"><span id=\"input-sentence~0\">With technical indicators suggesting a possible reversal of fortune, some worry a continuous fall while others see possibility for a return.<\/span><span id=\"input-sentence~1\"> XRP&#8217;s future is still unknown, though, and the continuous legal conflict with the SEC and more general market mood will be quite important.<br \/>\n<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/analysis\/xrp\/xrp-all-talk-no-action-social-media-booms-but-price-stuck-in-the-bear-pit\/\" target=\"_blank\" rel=\"noopener \">XRP All Talk, No Action? Social Media Booms, But Price Stuck In The Bear Pit<\/a><\/div>\n<h2 data-sourcepos=\"5:1-5:38\"><strong>A Downturn And Dampened Enthusiasm<\/strong><\/h2>\n<p data-sourcepos=\"7:1-7:30\"><span id=\"input-sentence~1\">For XRP holders, the last several weeks have been a wild journey.<\/span><span id=\"input-sentence~2\"> Once the only one with seeming regulatory sanction in the United States, the cryptocurrency has dropped over 5% in just one week alone.<br \/>\n<\/span><\/p>\n<p data-sourcepos=\"7:1-7:30\"><span id=\"input-sentence~2\">The price dropped as low as $0.49 then rebounded somewhat to reach its present level of $0.50.<\/span><span id=\"input-sentence~3\"> This downturn has corresponded with a clear slowing down of crypto community excitement. XRP discussions have faded, and the typical &#8220;bullish&#8221; fervour appears to have quieted.<br \/>\n<\/span><\/p>\n<h2 data-sourcepos=\"9:1-9:59\"><strong>Technical Signals And Expert Opinions<\/strong><\/h2>\n<p data-sourcepos=\"11:1-11:77\"><span id=\"input-sentence~3\">Though the future seems bleak, XRP has some promise.<\/span><span id=\"input-sentence~4\"> On TradingView, analysts point to technical signs suggesting a possible rally in progress.<br \/>\n<\/span><\/p>\n<p data-sourcepos=\"11:1-11:77\"><span id=\"input-sentence~4\">Usually connected with positive momentum, the chart indicates a sequence of &#8220;higher lows and higher highs.&#8221; Besides, the $0.50 mark looks to be serving as a support level.<\/span><span id=\"input-sentence~5\"> Every time the price falls around this position, it marginally recovers to suggest that some investors find it appealing as a starting place.<br \/>\n<\/span><\/p>\n<p data-sourcepos=\"13:1-13:470\"><span id=\"input-sentence~5\">Some analysts share this optimistic view. Renowned crypto researcher Dark Defender is still positive about XRP&#8217;s future for 2024, foresaw as a jump to $1.80 before year&#8217;s end Egrag Crypto has polled almost 4,000 people of the crypto community to also find conflicting emotions.<\/span><span id=\"input-sentence~6\"><br \/>\n<\/span><\/p>\n<p data-sourcepos=\"13:1-13:470\">A substantial majority (61%) expressed hope about XRP&#8217;s capacity to join in an expected bull run, while a sizable minority (40%) stayed cautious.<\/p>\n<p data-sourcepos=\"13:1-13:470\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/7uo2TKfz\/\" width=\"1835\" height=\"883\"><\/p>\n<pre style=\"text-align: center\" data-sourcepos=\"15:1-15:45\">Total crypto market cap currently at $2.2 trillion. Chart: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/pre>\n<h3 data-sourcepos=\"15:1-15:45\"><strong>Clouds Over XRP: The Looming Legal Battle<\/strong><\/h3>\n<p data-sourcepos=\"17:1-17:136\"><span id=\"input-sentence~6\">The road forward for XRP is not really clear-cut.<\/span><span id=\"input-sentence~7\"> Ripple Labs&#8217; <a href=\"https:\/\/timestabloid.com\/ripple-vs-sec-lawsuit-as-of-may-11-2024-sec-flaws-exposed\/\" rel=\"nofollow\">continuous legal struggle<\/a> with the US Securities and Exchange Commission (SEC) keeps a lengthy shadow over things. The case, which mostly questions whether XRP is a security, has caused market uncertainty and damaged investor trust.<br \/>\n<\/span><\/p>\n<p data-sourcepos=\"17:1-17:136\"><span id=\"input-sentence~7\">This regulatory uncertainty makes it challenging for institutional investors to join the XRP market, so reducing its possible for notable expansion.<\/span><span id=\"input-sentence~8\"><br \/>\n<\/span><\/p>\n<pre style=\"text-align: center\" data-sourcepos=\"17:1-17:136\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-607649\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/a_5ff0da.png?resize=676%2C403\" alt=\"\" width=\"676\" height=\"403\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/a_5ff0da.png?w=676 676w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/a_5ff0da.png?w=460 460w\" sizes=\"(max-width: 676px) 100vw, 676px\">XRP price down in the weekly timeframe. Source:<a href=\"https:\/\/www.coingecko.com\/\" target=\"_blank\" rel=\"noopener nofollow\"> Coingecko<\/a><\/pre>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/dogecoin\/unlocking-the-dogecoin-code-one-metric-holds-the-key-to-its-next-rally\/\" target=\"_blank\" rel=\"noopener \">Unlocking The Dogecoin Code: One Factor Holds The Key To Its Next Ascent<\/a><\/div>\n<h3 data-sourcepos=\"19:1-19:42\"><strong>Market Sentiment And Ripple Effect<\/strong><\/h3>\n<p data-sourcepos=\"21:1-21:394\"><span id=\"input-sentence~8\">Furthermore adding pressure on<a href=\"https:\/\/www.coingecko.com\/en\/coins\/xrp\" rel=\"nofollow\"> XRP&#8217;s price<\/a> is the general negative attitude engulfassing the crypto market.<\/span><span id=\"input-sentence~9\"> The barometer of the bitcoin market, has witnessed a notable downturn recently, pushing numerous altcoins\u2014including XRP\u2014down with it. This sets off a domino effect whereby negative attitude in one coin spreads across others, aggravating the drop even more.<br \/>\n<\/span><\/p>\n<p data-sourcepos=\"25:1-25:457\"><em>Featured image from Getty Images, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Once-booming cryptocurrency Ripple (XRP) finds itself in a vulnerable situation. The value of XRP dropped significantly last month, which has left analysts and investors in flux. With technical indicators suggesting a possible reversal of fortune, some worry a continuous fall while others see possibility for a return. XRP&#8217;s future is still unknown, though, and the continuous legal conflict with the SEC and more general market mood will be quite important. Related Reading: XRP All Talk, No Action? Social Media Booms, But Price Stuck In The Bear Pit A Downturn And Dampened Enthusiasm For XRP holders, the last several weeks have been a wild journey. Once the only one with seeming regulatory sanction in the United States, the cryptocurrency has dropped over 5% in just one week alone. The price dropped as low as $0.49 then rebounded somewhat to reach its present level of $0.50. This downturn has corresponded with a clear slowing down of crypto community excitement. XRP discussions have faded, and the typical &#8220;bullish&#8221; fervour appears to have quieted. Technical Signals And Expert Opinions Though the future seems bleak, XRP has some promise. On TradingView, analysts point to technical signs suggesting a possible rally in progress. Usually connected with positive momentum, the chart indicates a sequence of &#8220;higher lows and higher highs.&#8221; Besides, the $0.50 mark looks to be serving as a support level. Every time the price falls around this position, it marginally recovers to suggest that some investors find it appealing as a starting place. Some analysts share this optimistic view. Renowned crypto researcher Dark Defender is still positive about XRP&#8217;s future for 2024, foresaw as a jump to $1.80 before year&#8217;s end Egrag Crypto has polled almost 4,000 people of the crypto community to also find conflicting emotions. A substantial majority (61%) expressed hope about XRP&#8217;s capacity to join in an expected bull run, while a sizable minority (40%) stayed cautious. Total crypto market cap currently at $2.2 trillion. Chart: TradingView Clouds Over XRP: The Looming Legal Battle The road forward for XRP is not really clear-cut. Ripple Labs&#8217; continuous legal struggle with the US Securities and Exchange Commission (SEC) keeps a lengthy shadow over things. The case, which mostly questions whether XRP is a security, has caused market uncertainty and damaged investor trust. This regulatory uncertainty makes it challenging for institutional investors to join the XRP market, so reducing its possible for notable expansion. XRP price down in the weekly timeframe. Source: Coingecko Related Reading: Unlocking The Dogecoin Code: One Factor Holds The Key To Its Next Ascent Market Sentiment And Ripple Effect Furthermore adding pressure on XRP&#8217;s price is the general negative attitude engulfassing the crypto market. The barometer of the bitcoin market, has witnessed a notable downturn recently, pushing numerous altcoins\u2014including XRP\u2014down with it. This sets off a domino effect whereby negative attitude in one coin spreads across others, aggravating the drop even more. Featured image from Getty Images, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":607651,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,6664,3505,3680,4531],"class_list":["post-607646","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-crypto","tag-price-analysis","tag-ripple","tag-xrp"],"acf":[],"yoast_head":"\n<title>XRP Sinking? Why Altcoin&#039;s Price Continues Downward Plunge<\/title>\n<meta name=\"description\" content=\"Once-booming cryptocurrency Ripple (XRP) finds itself in a vulnerable situation. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP On A Sinking Ship? 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