BEARISH 📉 : XRP price falls below support amid weak on-chain signals

Key Points on XRP Price Movement:

XRP's price is under selling pressure, currently trading near $1.42, having dropped over 10% in the past 24 hours.
Technical indicators show a sharp sell-off with the Relative Strength Index nearing oversold territory.
Trading volumes have increased, indicating strong selling momentum.
On-chain data reveals reduced network activity and limited accumulation at current prices.
Breaking below the $1.60 support level has intensified selling through automated orders.
If unable to reclaim $1.60, the next significant support level is $1.00.

Ripple's Institutional Moves vs. Market Reaction:

Ripple announced its prime brokerage arm, Ripple Prime, now supports Hyperliquid, a decentralized derivatives platform.
This integration allows access to on-chain perpetual futures with various assets through a single account.
The announcement has not significantly impacted XRP's demand or price.

Market Divergence:

Hyperliquid's token, HYPE, shows strength despite the broader market weakening.
Capital seems to favor platforms linked to institutional trading rather than large-cap tokens like XRP.
XRP's price trajectory remains influenced by market structure and on-chain signals over institutional developments.

XRP Price Chart

The risk of further decline toward $1.00 persists unless buying interest increases.