According to technical and fundamental data, XRP expects a price collapse of 30% in the very near future despite the fact that the digital asset XRP rose by 8% last week.
Cointelegraph specialists believe one of the reasons why XRP may fall is the blocking of a large amount of coins by the Ripple Labs project as part of a programmed withdrawal of funds. According to reports, this affects about 800 million XRP, 200 million of which will be used to cover operating expenses.
The second possible reason is the panic among users spreading rumors about the mass sale of XRP. According to data from Santiment, a platform that monitors social media trends and analyzes their impact on the value of cryptocurrencies, users have recently begun to actively search for information on the request #XRPNetwork. The report says:
“It has been historically proven that as soon as users become interested in XRPNetwork, first there is a sharp increase in the price of the coin, and then there is a period that we call “mass sell-offs”, after which the value of XRP inevitably decreases.”