XRP price keeps losing ground despite upcoming Ripple Swell event

💡 DMK Insight

XRP’s price is teetering at $2.50, and here’s why that matters: investor sentiment is waning ahead of Ripple’s annual event. Despite the hype surrounding this event, the lack of bullish momentum suggests traders are skeptical about any significant announcements. If XRP slips below the $2 mark, it could trigger a wave of stop-loss orders, leading to further declines. This level is crucial; a breach could open the door to a deeper correction. Keep an eye on trading volumes as well—if they drop significantly, it could indicate that traders are losing faith. On the flip side, if Ripple manages to surprise the market positively, we might see a short squeeze that could push prices back up. Watch for any news or updates from the event that could shift sentiment. For now, monitoring the $2 support level is essential, as it could dictate the next move for XRP and potentially impact related assets like altcoins that often follow XRP’s lead.