The decline of Bitcoin (BTC) and altcoins shows no signs of ending. Just when Bitcoin and the market seemed to be starting to recover, selling pressure resumed in recent weeks, leading to a drop in the BTC price to $70.
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The situation is worsening for altcoins:
Ethereum (ETH) has dropped to the $2000 level.
Additionally, BNB has fallen to $680,
Solana (SOL) has dropped below $100, to $90.
and XRP has dropped to $1.4.
As a result of this decline, the price of XRP has fallen to its lowest level since Donald Trump was elected President of the United States.
The price of XRP has dropped to $1.4, reaching its lowest level since November 2024, and has also fallen below a key support level that attracted buyers during the sharp decline in April last year.
This situation indicates that sellers have taken control of the XRP market.
Experts believe that the lack of clear support in the range of $1 to $1.44 could lead to further declines, and the price of XRP may sharply fall below $1.
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Is XRP in a bear market?
Recently, we have been hearing a lot about crypto winter and the bear market for Bitcoin and the cryptocurrency industry.
While most analysts claim the market has entered a bear market and further declines are possible, some suggest we are in a bear market and nearing its end.
Amid ongoing discussions about the bear market, analytical company A********l in its latest analysis stated that XRP is on the brink of an aggressive bear market.
At this stage, the analytical company listed 3 indicators suggesting that XRP is about to enter a bear market:
1) Actual capital increase (indicates that new capital has come from XRP.)
2) Z-score MVRV (located just above a key level determining whether the bear market will continue or this is the last support level on-chain).
3) NUPL (Net Unrealized Profit and Loss) - (Is at the intersection point. Further decline will mean that most transactions with XRP will turn into unrealized losses.)
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“XRP is at a critical stage of transition in the blockchain.”
Data suggests that if the price drops a bit more, the situation could quickly worsen, leading to a prolonged bear market and a potential capitulation phase.
If these three indicators weaken further, selling pressure is likely to increase in the coming days.