On Sunday, November 17, Ripple’s (XRP) price hit $1 for the first in three years. This landmark also saw XRP volume rise to $24 billion, but as of this writing, that value has since dropped.

This decline indicates that interest in the altcoin is no longer as high as it was earlier. But how will this affect XRP’s price?

Market Attention to Ripple Drops

According to Santiment, XRP’s volume recently peaked at $24.40 billion but has since dropped significantly to $7 billion, marking a $17 billion decrease in buying and selling activity.

From a technical perspective, a rising price coupled with increasing volume typically signals a strong and sustainable uptrend. However, when the price rises while volume declines, it suggests weakening momentum and a potential reversal.

This appears to align with XRP’s current situation, where the volume drop indicates diminished market participation. If this trend persists, XRP’s price could struggle to maintain its upward trajectory and risk falling below the $1 mark in the short term.

Furthermore, a look at social dominance shows that the reading has dropped. Social dominance is measured by analyzing the percentage of discussions focused on a specific cryptocurrency compared to the total discussions happening across various crypto-related platforms. This metric highlights how much attention an asset is garnering within the broader crypto community.

When social dominance increases, it often indicates heightened interest or hype around the asset. Conversely, a decrease in social dominance may suggest that the asset is losing visibility or relevance in the market.

A few days ago, XRP’s social dominance was almost 13%. As of this writing, it has dropped to 2.34%, indicating that interest in the token has waned. Should this remain the case alongside the drop in XRP volume, the price might drop.

XRP Price Prediction:  Sub-$1 Possible

Based on the daily chart, XRP experienced a surge in buying pressure earlier. This was indicated by the Money Flow Index (MFI), an indicator that measures the level of capital injected into a cryptocurrency.

But as of this writing, the MFI reading has dropped from that peak. This decline indicates that buying pressure is no longer as high as it was some days back. Therefore, if this reading continues to decrease, then XRP’s price could drop to $0.80.

However, if XRP volume climbs to the double-digits region again, this trend might change. Should that happen, the cryptocurrency’s value could rise to $1.26.

El Salvador will soon see its first regulated tokenized US Treasury Bill (T-Bill) offering, providing access to this investment vehicle for individuals and organizations previously excluded. 

NexBridge Digital Financial Solutions, a licensed digital asset issuer in the country, has partnered with Bitfinex Securities to introduce this new product.

Bitfinex Securities Want to Raise $30 Million for the Tokenized T-Bill

The subscription period for the offering begins Tuesday and runs until November 29. Investors can use Tether’s stablecoin (USDT) to purchase tokens, with plans to accept bitcoin (BTC) in the future. 

After the subscription closes, the tokens will trade on Bitfinex Securities’ secondary market. It will be traded under the ticker USTBL. The value of these tokens will be tied to BlackRock’s short-term Treasury bond ETF. Bitfinex Securities aims to raise a minimum of $30 million through this initiative.

“By leveraging Bitcoin’s technology and infrastructure, we’re laying the foundation for a globally accessible financial ecosystem, bringing tokenized U.S. Treasuries to investors worldwide,” said Michele Crivelli, Founder of NexBridge in the press release.

Overall, the tokenization of real-world assets (RWAs) is expanding rapidly. Earlier this month, BNB Chain launched a tokenization portal for RWAs and private companies to simplify access for new Web3 users. 

Similarly, MANTRA debuted its mainnet, enabling on-chain RWA integration. This boosted the utility of its OM token, which surged over 200% in November, reaching a new all-time high.

El Salvador Continues to Benefit from Its Bitcoin Holdings

El Salvador continues to push forward with significant financial developments. The government recently launched its third dollar bond buyback. This effort targets over $2.5 billion in bonds, contingent on securing new financing. The decision came after BTC reached an all-time high post-election. 

Also, a second term for former US President Donald Trump can be potentially beneficial for President Nayib Bukele’s administration. It will potentially improve El Salvador’s chances of obtaining financial support from the International Monetary Fund (IMF).

Back in 2021, El Salvador gained international recognition when it became the first nation to adopt Bitcoin as legal tender. The country’s Bitcoin holdings are now valued at $515 million.

Bitcoin (BTC) has declined from its $93,495 peak, now trading at $92,428 as profit-taking accelerates.

Market sentiment, marked by “extreme greed,” signals a possible price reversal as traders increasingly lock in gains.

Bitcoin’s Rally Prompts Its Long-Term Holders To Sell

BeInCrypto’s assessment of BTC’s on-chain performance has shown a spike in coin distribution by its long-term holders (LTHs). These are investors who have held their coins for an extended period, typically defined as more than 155 days. 

Per Glassnode’s data, the coin’s Hodler Net Position Change dropped to a five-month low on Tuesday. This metric reflects the overall buying and selling activity of long-term Bitcoin holders. This decline indicates that the group sold over $3 billion worth of BTC on that day — their highest single-day sell-off since June 26.

Notably, BTC transactions have been significantly profitable over the past few weeks. As of this writing, the ratio of the coin’s daily transaction volume in profit to loss (assessed using a 30-day moving average) is 2.01. This suggests that for every BTC transaction that has ended in a loss, 2.01 transactions have returned a profit. 

Moreover, BTC’s market value to realized value (MVRV) ratio suggests that the coin may be overvalued, prompting more holders to sell. According to Santiment’s data, BTC’s current MVRV ratio is 182.06%.

At 182.06%, BTC’S MVRV ratio suggests that its current market value is significantly higher than its realized value. Therefore, if all coin holders were to sell, they would, on average, realize 182.06% profit. 

BTC Price Prediction: All Lies With the Coin’s Long-Term Holders

At press time, BTC trades at $92,428, slightly below its cycle peak of $93,495. If LTHs persist in their profit-taking activity, BTC’s price will fall further from this high, toward support below $90,000. According to readings from the coin’s Fibonacci Retracement tool, the next major support is formed at $83,983. 

However, if selling activity stalls and the coin sees a spike in new demand, its price will reclaim the $93,495 all-time high and attempt to rally past it.