XRP's recent price drop has raised concerns among investors, with the cryptocurrency trading around $1.11 after a 4% decline in 24 hours and over 10% in a week.
On-chain data suggests that holders are realizing losses, which is contributing to the bearish trend. The XRP Ledger activity has weakened, with transaction fees dropping by more than 91%.
Binance's XRP reserves have fallen, reducing immediate supply but not indicating a recovery. To shift the bearish outlook and target higher prices around $1.66, a sustained break above the resistance zone of $1.26 to $1.33 is needed.