XRP Price Slides 10% Amid Rising On-Chain Activity And Whale Transactions; Key Supports In Focus
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The XRP price has dipped by nearly 10% over the past 24 hours, reflecting overall market volatility. Despite outperforming Bitcoin with a 35% gain in July, XRP now faces significant fluctuations. Market platform Santiment attributes its earlier success to heightened on-chain activity and whale transactions. Ripple's recent $10 million allocation towards tokenized US Treasury bills also adds to its bullish sentiment.
Analysts have varied opinions on XRP's future. While some forecast near-term targets of $2.5 to $3.5, others envision long-term growth reaching as high as $482.48.
In the short term, XRP must maintain key support levels at $0.5650 and $0.5400 to resume its previous uptrend. Breaching these could lead to further declines.
Overall, the token's future trajectory hinges on its ability to hold above critical support points, especially as the current downtrend persists.
Source: www.newsbtc.com ↗
