The XRP cryptocurrency has reversed course, entering bearish territory following an earlier recovery signal. This movement has erased most recent gains, with the price potentially heading toward $1 in the next 24 hours due to a rapid retrace.
XRP's price action took a downturn after showing signs of recovery earlier in the week. According to recent reports, the cryptocurrency has slid back into bearish territory, wiping out most of its brief gains and escalating uncertainty in the market.
The rapid retrace observed in the last 24 hours suggests XRP might move toward $1 swiftly. This follows a failed recovery attempt that had initially indicated potential upward momentum.
This development is part of broader crypto market dynamics highlighted in a news digest, which also touches on Ripple's CTO addressing speculation about a $1 billion XRP treasury and Bitcoin outperforming gold. However, the focus remains on XRP's immediate price volatility, with no specific timelines or further details provided on the recovery failure.