XRP price keeps falling as digital tokens struggle to regain ground. What's happening with crypto?

"The cryptocurrency market is continuing to tumble as investors worry about risky assets, an AI and tech bubble, and a roughly 50% likelihood of the Federal Reserve cutting interest rates. Closely watched digital asset XRP (XRP-USD) has fallen to $2.13 per token, a 26.55% drop from three months ago. It previously hit a high of $3.65 in July, but the cryptocurrency has been trending significantly downwards since early October. This fall keeps XRP below the critical support/resistance level of $2.20."

"There were moments of hope that the price would rebound with the recent launch of three XRP exchange-traded funds (ETFs). However, those hopes were soon dashed. Take Canary XRP ETF, from Canary Capital, which launched on November 13. The fund (XRPC) opened at $26.63 that first day but has since fallen 10.85%. Binance News reports that "whales" sold 200 million XRP in the 48 hours following."

"XRP is following a similar downward pattern to other cryptocurrencies, such as Bitcoin, the world's most popular cryptocurrency. Its price (BTC) also began to fall in early October and has made a sharp decline since early November. This week, it experienced a so-called death cross, which is when an asset's short-term price momentum falls below its long-term trends. As of publishing, Bitcoin sits at $91,577, a 13.26% drop from six months ago and an 18.12% drop from just one month ago."

The cryptocurrency market is continuing to tumble as investors worry about risky assets, an AI and tech bubble, and a roughly 50% likelihood of the Federal Reserve cutting interest rates. XRP has fallen to $2.13 per token, a 26.55% drop from three months ago, remaining below the critical $2.20 support/resistance level. Three newly launched XRP ETFs briefly lifted hopes, but prices fell again as one fund (XRPC) dropped 10.85% after opening and whales sold 200 million XRP. XRP is mirroring Bitcoin's decline, driven by profit-taking, institutional outflows, macro uncertainty, and liquidations.

Read at Fast Company