XRP is experiencing a sell-off, recently plunging over 35% from a high of $3.40 in January. An inverse cup and handle chart pattern suggests a potential decline of over 25% in April. This bearish formation indicates weakening buyer momentum, with the 'cup' formed by a rounded decline and the 'handle' indicating sideways movement between $2.05 and $2.20. A breakdown from this range could trigger a drop toward the $1.58 support level. Additionally, whale activity shows sustained net outflows, indicating a lack of institutional support for XRP's price. Analysts point to this weakening conviction, combined with recent market sentiments surrounding geopolitical tensions, as factors that could impact XRP's stability in the near term.
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