XRP Faces Bearish Pressure as Smart Money Exits

XRP's price is precariously positioned just 1% above the lower boundary of a three-month rising channel, following a significant exit by smart money on May 17, according to BeInCrypto. This exit has triggered a series of bearish technical signals, reminiscent of a similar event in late April that led to a 7% price drop. The Smart Money Index fell below its signal line, and the 20-day EMA is nearing a bearish crossover with the 50-day EMA, indicating potential short-term bearish momentum. Additionally, XRP whales have been reducing their holdings since May 12, while exchange inflows suggest retail investors are also selling. A daily close below $1.36 could confirm a breakdown, potentially leading to a further decline to $1.27.