XRP market value drops, daily price shrinks by 12%XRP once rose to become one of the top three cryptocurrencies in the world with astonishing growth rates, second only to Bitcoin and Ethereum. However, its recent market performance has fallen short of expectations.As of the time of writing this article, Ripple Labs' token XRP has dropped significantly by 12% in one day, with its market value dropping to $127 billion. Nevertheless, XRP's growth over the past month has been astonishing, reaching 344%, making it one of the hottest cryptocurrencies in November, second only to Bitcoin.According to CoinMarketCap data, XRP's ranking has declined, and Tether (USDT) has returned to third place with a market value of $135 billion.Three reasons why XRP may plummet:Technical pullback: When the price is above its short-term and long-term moving averages, it usually means there is a risk of a pullback, that is, the price may return to its mean level.Overbought signals: The Relative Strength Index (RSI) and random oscillation indicators indicate that XRP is currently in an overbought state, which may indicate short-term weakness.Imbalance between supply and demand: Excessive demand and limited supply may also lead to excessively high prices, resulting in potential downward pressure.In summary, the recent pullback of XRP and changes in technical indicators indicate that prices may face greater downward pressure. Investors need to closely monitor market trends and manage risks effectively.#BTC reaches a new high of 100000 # xrp