XRP Slides Towards $1 as Regulatory Catalysts Vanish

XRP's recent decline towards $1 has been attributed to a shift in market structure, according to CryptoQuant analyst PelinayPA.

The absence of buyers and the lack of strong new demand are major concerns for XRP investors.

PelinayPA notes that whales are not driving this drop, but rather the real problem lies in the inability of prices to recover after making lower levels from its peak near $3.39.

The Fibonacci 1.272 extension level at $0.52 marks a significant target for XRP if $1 fails to hold on a sustained basis.

The SEC's delayed innovation exemption and cancelled Reg Crypto open meeting have also contributed to the decline of XRP's regulatory tailwinds.