XRP continues to decline: 2022's curse reappears, can the key level of $1 hold?

Question

【Crypto World】 XRP hasn't been very quiet this past week. From last Wednesday to now, it has dropped nearly 10%, mainly due to macroeconomic issues causing trouble behind the scenes. What's more disheartening is that veteran crypto traders have noticed the re-emergence of three pitfalls from 2022 — changes in holding cost structure, trading volume decreasing along with price, and increasingly strong bearish signals. Some are discussing whether it will break below $1, a critical level that definitely warrants attention. However, looking at the charts, there are some bullish signs brewing, but current on-chain data and technical indicators suggest we should remain cautious. In the short term, XRP may still need to be tempered.

screenshot_gains · Accepted Answer

Here we go again, that same pattern from 2022 is back, truly a vicious cycle.

I don't believe it will break below $1, unless a black swan event really occurs.

Bullish signs? Uh... I trust on-chain data more. Right now, entering is just a gambler's mindset.

Wait, how low can this drop go? Let's talk about the rebound later.

A 10% decline isn't a big deal; the key point is that trading volume is indeed cooling off.

LiquidityWitch · Answer

It's the same old story in 2022 again, brothers.

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Losing 1 dollar isn't surprising; consider the rebound as a gambler's mentality.

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The trading volume is indeed sluggish, it seems we still have to continue falling.

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Are there bullish signs on the chart? Wake up, on-chain data speaks for itself.

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How long will XRP be grinding this time? Feels like it will last until next year.

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Macro economic chaos, small-cap coins are the first to be affected, no way around it.

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The holding cost structure has collapsed; many people probably have to cut losses.

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Being cautious is right; don't be fooled into a rebound.

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Breaking 1 is just a matter of time, let's wait and see the show.

BankruptcyArtist · Answer

Here we go again, that same trick from 2022... it's really a curse reincarnated

Falling below $1 feels like only a matter of time. Are there still bullish signs now? Wake up, buddy

XRP is just like this, repeatedly pulled and tugged, such a tease

The macroeconomy is collapsing, how can cryptocurrencies remain unaffected? Be realistic

Short-term grinding? I'll grind until I go bankrupt

VitaliksTwin · Answer

Here we go again, that same trick from 2022... so annoying

The $1 barrier feels like it's hanging in the air

zkProofInThePudding · Answer

Here we go again with the 2022 drama, really incredible. The $1 barrier feels hard to defend, but I haven't figured it out... Let's wait and see.

XRP continues to decline: 2022's curse reappears, can the key level of $1 hold?

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