A recent poll by cryptocurrency analyst EGRAG CRYPTO found that over half of investors are growing frustrated with XRP’s sluggish price performance. Of the 3,000 respondents, 56.3% expressed displeasure at the altcoin’s inability to capitalize on its mid-November peak.
According to the poll, 70% of holders plan to sell their XRP tokens if the price again nears its historical high of around $0.80. Only 5% intend to continue holding beyond the psychologically important $10 threshold. This reluctance suggests fading confidence in XRP’s long-term investment prospects.
Data from CoinMarketCap has also confirmed investors have already begun offloading tokens over the past 24 hours, driving prices down 1.72% to $0.6196.
This continues a negative weekly trend that has seen XRP plummet nearly 10% in value. With the asset losing key support around the $0.6235 level, analysts warn prices could fall further to retest support at $0.5845.
However, a decisive daily close above $0.6235 over the next two days could halt the decline. In that bullish scenario, XRP may climb back up towards the $0.68 mark.
For now, bearish technical indicators like the MACD and RSI signal diminished buying appetite and a market favoring sellers.
This points to a likelihood that XRP’s downward slide will persist over the next 24-48 hours as investor enthusiasm continues to falter.
Also Read: Ben Armstrong sees XRP exploding in Next Bull Run
