Speaking of XRP, the performance over the past two years has been a roller coaster. The first half was supported by positive news, leading to a decent rally, and many early investors made some profit. But starting from the end of the third quarter, the market suddenly turned hostile, with wave after wave of sell-offs pushing the price down steadily. After entering the fourth quarter, this downward trend has not stabilized.

Looking at the technical charts makes it clear. Reviewing the trading data from the past three months, how significant is this decline? Not only has the trading volume surged, but selling pressure has also never weakened. This isn't just small retail investors being scared away; it could be institutions quietly reducing their holdings. Even more painfully, this round of decline has wiped out the gains made over the previous half-year. Currently, XRP's price has fallen back to levels from two years ago, meaning all the gains and profits from the past two years have been reset to zero.

Some might say that such a sharp drop should trigger a rebound. But from a cyclical perspective, this judgment may not be reliable. The persistent decline indicates that market expectations for XRP are still weakening. Whether the situation can be reversed in the short term depends on whether there are new catalysts in the fundamentals. If you still hold XRP or are considering bottom-fishing, you must think carefully: are you betting on a rebound, or are you betting on XRP's long-term value? These two logics are different. When market sentiment is so weak, rushing to buy the dip carries significant risks.