XRP Price Drops to Critical Support Level of $2
XRP's price has dropped to the critical support level of $2 following a market correction. Analysts warn that a close below this level could indicate a significant bearish trend, possibly leading to a decline to $1.20.
Key points:
- Current XRP trading at $2.13 with a daily trading volume of $9.55 billion.
- Recent low of $1.95 was followed by a recovery of over 10%.
- 24-hour liquidations total $36.17 million, with $27.2 million in long positions.
- XRP shows stronger support levels compared to other altcoins.
- Institutional inflows into XRP reached $5.6 million, outpacing Bitcoin and Ethereum.
- Bitcoin saw significant weekly outflows of $756 million; Ethereum had $89.2 million in outflows.
- Optimism grows around a potential settlement in the SEC vs Ripple lawsuit as a catalyst for price increases.
