Gate News bot message, in the context of increasing macroeconomic uncertainty, XRP is facing intensified selling pressure.
The ongoing trade friction between China and the U.S., inconsistent signals from central bank policies, and the recent rejection of ETFs have dampened market sentiment for risk assets.
Meanwhile, traders are closely watching Ripple's deployment of the RLUSD stablecoin, as well as the regional regulatory milestones in Dubai and Singapore—Ripple's infrastructure continues to expand in these two markets.
However, these advancements have not provided a boost in the short term, with XRP falling nearly 9% this week.
Market observers point out that a descending channel is forming on the XRP hourly chart, which is a bearish continuation signal, with a surge in trading volume during testing of key resistance levels.
Analysts warn that unless buyers can reclaim the $2.20 level, the price trend may further drop towards the $2.10 area.
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XRP is facing resistance at $2.20, and the technical indicators show a持续下行趋势.
Gate News bot message, in the context of increasing macroeconomic uncertainty, XRP is facing intensified selling pressure. The ongoing trade friction between China and the U.S., inconsistent signals from central bank policies, and the recent rejection of ETFs have dampened market sentiment for risk assets. Meanwhile, traders are closely watching Ripple's deployment of the RLUSD stablecoin, as well as the regional regulatory milestones in Dubai and Singapore—Ripple's infrastructure continues to expand in these two markets. However, these advancements have not provided a boost in the short term, with XRP falling nearly 9% this week. Market observers point out that a descending channel is forming on the XRP hourly chart, which is a bearish continuation signal, with a surge in trading volume during testing of key resistance levels. Analysts warn that unless buyers can reclaim the $2.20 level, the price trend may further drop towards the $2.10 area.
Source: CoinDesk