2 hours ago
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XRP Price Dips Below $2 Amidst Bearish Momentum
The XRP price recently dipped below the $2 level, continuing a trend of lower highs and lows. This decline has contributed to bearish sentiment.
- An analyst suggests the current movement reflects XRP falling to a familiar support area within a descending channel.
- XRP has been trading between $1.90 and $3.50 for nearly a year. The recent drop revisits the established lower boundary at $1.90.
- The green support region around $1.90 has historically prevented deeper declines, maintaining the broader consolidation phase.
- If XRP breaks below $1.90, it could face a severe retracement.
- The $3.60 resistance was tested earlier but rejected, forming the current trading range. A break above this could lead to significant upside potential with targets at $7, $12, and possibly $25.
XRP is currently trading at $1.96, down 8% in the past 24 hours.
