As reported by Finbold, XRP may be entering a new bear cycle despite short-term bullish sentiment. According to TradingShot's analysis, XRP recently broke below the 50-week moving average, a key support level, and is now targeting the $0.90 level, aligned with the 0.618 Fibonacci retracement. Whale transactions also suggest potential large-scale selling, with over 190 million XRP ($448 million) moving between Gemini and unknown wallets in the past 24 hours. Meanwhile, Ripple announced a $500 million strategic investment at a $40 billion valuation, backed by Citadel, Fortress, and Pantera Capital. As of press time, XRP was trading at $2.31, down over 7% in the past week.
XRP Enters Bear Cycle, Could Drop to $0.90 as Technical Indicators Signal Downtrend
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