news 
Title: 730 Million XRP Drop Occurs Amid Failed Recovery Attempt
A staggering 730 million XRP tokens have reportedly dropped out of circulation amid a failed recovery attempt by the asset. This significant drop highlights concerns about XRP’s adoption and usefulness, which may put additional pressure on investors.
The market has been closely watching XRP’s performance in recent times due to its lackluster user engagement and capital flows within the ecosystem. The most recent data suggests that these issues persist even after the previous price spikes. This pattern might suggest further downside risk for the asset if it continues.
To regain its bullish momentum, XRP would need to reclaim crucial resistance levels at $2.50 and $2.70. Any positive price movement could be driven by significant whale accumulation or an increase in trading volume. However, if XRP is unable to hold above $2.30, there may be more drops towards $2.10 or even $1.85.
It appears that the asset’s downward trajectory may continue unless its adoption and usefulness increase significantly. Market participants will closely monitor on-chain metrics in the coming days to determine whether XRP can regain lost ground or continue its decline.
This massive drop highlights concerns about XRP’s future prospects, which could further destabilize the market.
Source: https://u.today/730-million-xrp-drop-occurs-amid-failed-recovery-attempt
