XRP’s price recently experienced a remarkable surge, climbing over 300% to 2.20 USD. This sharp increase has caught the market’s attention, but there are concerns about its sustainability in the short term.
Current indicators point to a potential short-term drop of 25% for XRP. The cryptocurrency is trading in a descending triangle pattern, suggesting a bearish trend. A break below the 2.10 USD support may lead to a target of 1.64 USD.
Recent data highlights significant XRP sell-offs by whale addresses, with a reduction of 180 million XRP. This is accompanied by a decrease from addresses holding over 100,000 tokens, totaling 170 million XRP, hinting at bearish sentiment.