XRP's price saw a significant drop, falling to $2.30 on January 5, experiencing a 7% decline in just 24 hours. This downward movement comes as XRP faces increased sell-side pressure. The current trend suggests that XRP could be at risk of experiencing double-digit percentage losses in the near future, potentially indicating a 20% reversal.
The sell-off might be driven by traders looking to take profits as the market sentiment shifts. With sellers gaining ground, investors are watching closely to see if this trend will continue, impacting the cryptocurrency's price trajectory in the coming week.
The data suggests that if the sell-side pressure persists, XRP could experience further declines. Market participants should remain cautious and consider the potential for continued volatility before making trading decisions.
