XRP Experiences 3.46% Correction Falling Below $2.30
Global economic tensions are impacting cryptocurrency markets, particularly affecting XRP, which is undergoing a correction amid selling pressure.
The US government's potential 50% tariffs on EU imports have caused market uncertainty, leading to a drop in XRP despite Bitcoin reaching new all-time highs.
Key points include:
- XRP corrected by 3.46% in 24 hours, declining from $2.361 to $2.303.
- Critical support is identified at the $2.25-$2.26 range; a breakdown could lead to deeper corrections toward $1.55-$1.90.
- Institutional interest persists with the launch of an XRP futures ETF and rising leveraged ETF inflows during price declines.
- A significant sell-off occurred at midnight, hitting a low of $2.297 on high volume (37.1M).
- A secondary dip at 08:00 reached $2.280, confirming a double-bottom formation.
- A recovery attempt followed, with XRP rallying to $2.307 at 13:36-13:39 on high volume (627K-480K).
- Profit-taking led to a retracement to $2.300, establishing short-term support at this psychological level.