📉 Why is $XRP Price Dropping Despite ETF Filings?

David Tevzadze - Feb 7 - - Dev Community

🚨 Market Uncertainty Hits XRP
XRP price has dropped 3.48% in 24 hours and 24.13% over the past week, trading below $2.50. Despite multiple XRP ETF filings, bearish sentiment prevails, keeping the token under pressure.

📊 Technical Indicators Signal Weakness

SMA acting as resistance, indicating strong selling pressure.MACD red histogram expanding, suggesting further downside risk.Trading volume at $7.48B, showing market volatility.

🚀 Will XRP Recover?
If bulls regain control, XRP could reclaim $2.50, paving the way for $3.00. However, continued bearish pressure might push the price down to $2.25 or even $2.00.

💡 What’s Next?
XRP’s short-term direction depends on ETF developments, market sentiment, and Bitcoin’s price action. Can the bulls take back control, or will bears continue dominating?

⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
Image description

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .