XRP's Tough Week: What's Pushing the Price Down?

XRP is having a rough time, dropping 8% to $2. 16. This isn't just a small dip; it's part of a bigger trend. The price has been struggling under a downward trendline since September. Every time it tries to bounce back, it fails, creating a pattern that shows sellers are in control. Looking at the numbers, the 20-day, 50-day, and 100-day moving averages are all above the current price and dropping. The 200-day moving average, which used to support the price, has now turned into a barrier. This means the long-term trend is not looking good for XRP. Until it can close above $2. 50, there's no sign of a real recovery. The next big support level is around $2. 25–$2. 20. If the price closes below this, it could drop to $2. 16 or even hit the psychological $2. 00 mark. On the other hand, if XRP can close above $2. 46, it might start to recover. A strong breakout above $2. 50 could push it towards $2. 85 and even higher. On-chain data shows that traders are sending more XRP to exchanges than withdrawing to private wallets. This usually means people are selling or taking profits, not buying and holding. While there was a small inflow on November 4, it's not enough to change the overall trend. Analysts say we need several strong inflows with high volume to see a real shift. Ripple has been making moves to attract big investors with its new platform, Ripple Prime. This could be a big deal for XRP in the long run, but so far, the market isn't reacting much. Traders are still cautious, and until we see more demand, the price will likely keep falling.