UAE, Abu Dhabi, XRP, the token associated with Ripple, has struggled to maintain its position above the critical USD0.60 mark, showcasing weakness even as the broader cryptocurrency market displays bullish trends. Bitcoin recently surpassed the USD64,000 threshold, reflecting a 1.5% increase over the past 24 hours, while other major altcoins, including Ethereum (ETH), which rose by 3.2%, are also performing well.

In contrast, XRP has experienced a nearly 1% decline in the same timeframe, placing it among the poorest performers in the top 100 cryptocurrencies, alongside Bonk (BONK) and BitTorrent (BTT). Analyst Bill Morgan emphasized the significance of XRP's inability to break and maintain the USD0.60 level, suggesting that failing to do so could lead to further declines below the 20-day EMA, a key resistance point.

Morgan described his observations as a necessary counter to the hype surrounding XRP, especially as community speculation grows regarding its potential to reach new all-time highs following Ripple's recent resolution with the SEC. Meanwhile, Ripple CEO David Schwartz has expressed uncertainty about the factors influencing XRP's price movements and dismissed theories of price manipulation, asserting his own interest as a holder of the token.