XRP Price Fails at Key Support: Risk of Major Drop to $0.40 Increases

XRP price is showing significant weakness after failing to hold a crucial support level, increasing the likelihood of a deeper correction. The digital asset, associated with Ripple, is currently testing a pivotal zone that has acted as both support and resistance in recent months. A decisive break below this level could trigger a sharp decline towards the next major support near $0.40. Market analysts point to declining trading volume and bearish momentum indicators as key factors behind the current pressure. Traders are closely watching for a potential rebound or further breakdown, which will set the tone for XRP's short-term trajectory. The broader cryptocurrency market sentiment remains cautious, adding to the selling pressure on altcoins like XRP.