Despite not being considered a security by the court, $XRP rally is rapidly losing momentum, with the profit turning into loss for some investors
, the second largest cryptocurrency by market capitalization, has been under continuous downward pressure lately, especially since breaking below the critical $1,900 price threshold. This decline has sparked concerns among investors and traders alike, eager to identify the potential source of this bearish trend.
One plausible explanation for Ethereum's downward trajectory could be the intensified selling pressure that has emerged in the aftermath of its support breach. Support and resistance levels play a pivotal role in cryptocurrency trading, influencing the buying and selling behavior of traders. In Ethereum's case, the breach of the $1,900 support level could have triggered an increased sell-off, further pushing the price down.
As of today, the cryptocurrency market is in a correction phase, marked by a generalized downturn in the prices of most digital assets. In such a scenario, it is unlikely that Ethereum or any other cryptocurrency would exhibit an upward trend until there is a change in the broader market
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