XRP price may drop 20% due to lack of selection for US strategic crypto reserve.

From Cointelegraph

March 8, 2025 07:46 AM:

XRP faces potential 20% price drop due to technical and fundamental pressures. Symmetrical triangle on weekly chart indicates possible bearish breakout. Historical patterns show similar setups leading to declines. Downside target around $1.46 aligns with 50-week EMA.

XRP’s price dropped after White House Crypto Summit, as XRP not selected for US strategic crypto reserve. Trump administration favors Bitcoin, holding $17.7 billion in BTC. XRP/BTC pair consolidating, potential break below key EMA could trigger 20% drop in XRP/USD.

XRP trading volumes surge to record levels, signaling distribution phase where large holders offload positions to retail buyers. Similar volume surge in 2021 preceded major downtrend. Decline in XRP whale holdings reflects lack of confidence in asset’s performance, potentially leading to increased selling pressure.

Read more at Cointelegraph: XRP price risks another 20% drop after ‘Digital Asset Stockpile’ letdown