The XRP token of Ripple is on the brink of dipping below the $2 threshold.
The most recent instance of XRP trading below $2 occurred in early April of this year. The daily charts indicate a 2.6% decline in the asset, while the weekly charts indicate a 7% decline.
The 14-day charts indicate a 9.8% decline, and the asset has declined by 13.4% over the previous month. Since June 2024, XRP has experienced a 313.8% increase, indicating that it has made steady progress over the past year.
Digital Currencies: A Dip in the Face of High Volatility
Once sentiment improves, there is a high likelihood that Ripple’s XRP token will recover. The fintech company’s trajectory for expansion is relatively unobstructed, as the Securities and Exchange Commission has discontinued litigation against it.
It is also likely that the SEC will authorize a spot XRP ETF at some point this year. The asset could experience a significant increase in institutional inflows due to the implementation of an exchange-traded fund (ETF). A scenario such as this could result in XRP reaching new highs.
Additionally, Ripple has experienced remarkable adoption within the global financial ecosystem. The increasing adoption rate of blockchain could be a significant advantage for XRP.
