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XRP Faces Critical Support Test Amid Potential 50% Price Drop Risk
XRP is currently at a critical support level following a recent market correction. The cryptocurrency dropped 6% to $1.88, losing key support at $2.00. Analysts warn that failure to hold the current level could result in a 50% price drop.
- XRP has been fluctuating between $2.00 and $2.25 but fell below this range during the late November pullback.
- A daily close above $1.92 is crucial to prevent further decline towards the $1.00 support level.
- Analysts point to potential bearish patterns forming, such as a high-timeframe rounding top or double top.
Despite these warnings, some analysts remain optimistic, citing bullish divergence on the daily timeframe as a sign of potential upward movement.
- If XRP breaks above the $2.20 resistance, it could surge by 27%-37% towards the $2.80-$3.00 range within a month.
- Current trading price is $1.92, showing a 1.65% increase.
