XRP Declines 6% Amid Global Economic Uncertainty and High Trading Volume
XRP experienced a decline of over 6%, falling from $2.305 to $2.163 amid high trading volumes and global economic uncertainties. This drop contributed to a 3.1% reduction in the total cryptocurrency market cap, now at $3.35 trillion.
Positive developments include:
- VivoPower raised $121 million to create an XRP-focused treasury reserve.
- Webus International aims to raise up to $300 million to launch an XRP strategic reserve.
Technical details indicate:
- XRP's volume surged to 174.7 million units, nearly four times the average.
- Support is seen at $2.16, while resistance is at $2.23.
- The price attempted a V-shaped recovery but consolidated between $2.195 and $2.196.
- If XRP fails to hold above $2.31, it may drop another 16% to $1.96.
Traders are preparing for continued volatility as XRP responds to macroeconomic challenges and institutional interest.