XRP Slumps into Sideways Drift Amid Market Pressure
XRP's price has dropped to $1.34, $1.37 as volatility on its daily chart has almost completely vanished, according to TradingView data.
Historically, this state of 'anti-volatility' means the market is hitting pause, and XRP typically falls into a sluggish sideways drift after such a lull.
Previous cycles show that this kind of drift can last as long as 240 days, but there are two possible scenarios: a short cycle of 79-89 days or a macro cycle lasting up to 240 days.
The market is under pressure due to the upcoming U.S. Senate vote on the CLARITY Act and the Federal Reserve's interest rate decision, which could reshape the macroeconomic landscape.
XRP reserves on Binance alone fell by 2.631 billion tokens in one day, as traders withdrew their assets from trading platforms while awaiting the upcoming news.