The fifth largest cryptocurrency in terms of total market value, XRP, seems to still be in a stressful situation. Despite the relatively positive preliminary decision in the SEC case, which led to a slight increase in XRP, it is now struggling to maintain this upward trend. Although the XRP price has experienced a 0.1% decrease in the past 24 hours, the real decline has been observed at 10% over the past 7 days. The current state of the XRP price is causing concerns among investors.
XRP Price Current Status
The XRP price triggered a general panic atmosphere by experiencing a 10% decline over the weekend only. The impact of the end of the recent positive movements is significant. 
The 7-day trading volume of XRP reached up to $3.9 billion, and the court decision played a significant role in this. However, the lack of continuation of the expected good news led XRP to enter stagnant waters. Since then, the volume has been decreasing, and it reached $1.1 billion in the last week. The volume in derivative markets paints a similar picture.
It is known that the open positions in XRP-focused futures contracts reached $1.19 billion, which is the highest level in two years. This value, seen on July 20, was followed by a decline, and it reached $780 million.
Why Did XRP Price Decline?
The excitement brought by the good news for XRP is fading, and this situation will continue to intensify unless new news arrives. XRP, which is still at a 31% higher price level compared to before the court decision, indicates its decline by losing $0.91, of course. However, it can be said that the XRP price is now in a more stable and balanced position. The rise towards $0.91 with the court decision gave way to a healthy support at $0.61.
The number of transactions on the XRP network is also at daily levels of 1.2 million, indicating everything is pointing to last year’s average. In this case, it can be considered that $0.61 will be a critical support with the arrival of new news, and the rise could come faster.
The future process for XRP is crucial. If the $0.61 support is lost, a decline to $0.40 could be seen again. Nevertheless, XRP still has the chance to move towards $1 with a new announcement or the continuation of the bullish trend.
