XRP price has recoiled this year as the crypto winter has accelerated. This consolidation may lead to more downside as the token has formed a risky pattern amid weak on-chain and ecosystem metrics. XRP Ledger network is struggling From a distance, the XRP token has some good fundamentals, especially as the ETF inflows jump this year and Ripple Labs continues doing well. Just last year, Ripple Labs raised cash from Citadel and Fortress at a $40 billion valuation. Today, this figure stands at over $50 billion. Ripple Labs has moved to establish itself as a major player in the custody and prime brokerage services, helped by its acquisition of Hidden Road and GTreasury.
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