#XRP #Xrp🔥

The current drop in XRP's price can be attributed to several key factors affecting both XRP specifically and the broader cryptocurrency market:

1. Bitcoin Dominance: Bitcoin's price surge above $100,000 has drawn investor attention and liquidity towards BTC. Its market dominance has increased to 55-60%, leading to reduced interest in altcoins like XRP. Historically, when Bitcoin rallies significantly, smaller coins tend to underperform.

2. Profit-Taking: XRP experienced a significant rally in November 2024, with gains of around 65%. This led many investors to lock in profits at higher price levels, which has amplified selling pressure in recent days.

3. Liquidations: The cryptocurrency market's high leverage levels mean that downward price movements often trigger automatic liquidations of leveraged positions. In the past 24 hours, XRP positions worth over $32 million were liquidated, further intensifying the sell-off.

4. Regulatory Concerns: While Ripple recently scored a legal win against the SEC, ongoing appeals and broader regulatory uncertainty still weigh on investor confidence. This hesitation, combined with market rotation into Bitcoin, has impacted XRP's performance.

Despite the decline, XRP may stabilize around key support levels, such as $1.90–$2.10 or, in a deeper retracement, $1.63. Such corrections are typical for volatile markets like crypto.