A significant psychological level for the currency $XRP has been broken, as the average purchase price for investors (total cost) has fallen below the current market price.

This shift has sparked a wave of panic selling, which is clearly reflected in the sharp decline of the SOPR index from 1.16 to 0.96. When this index drops below the level of 1.0, it means that currencies are currently being sold at a loss on average.

The current price action is starting to resemble a troubling pattern from the past, specifically the long consolidation period followed by the drop between September 2021 and May 2022, indicating that traders may face more sideways movements or downward pressure in the upcoming phase.

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