The XRP price has fallen sharply and broke an important rising trend line. This means that the risk of a decline towards the psychological limit of 2 dollars appears to be increasing rapidly.
Trust crumbles after a break in recovery pattern
Early this week, XRP fell below its short-term trendline. The price is now around $2.40, a drop of almost five percent in one day. This effectively wipes out the fragile recovery that had started since the October crash.
The currency has bounced off the 200-day average several times in recent weeks and has now fallen below it again. According to analysts, this indicates declining confidence among buyers. If XRP does not manage to climb back above $2.55 soon, a further pullback is likely.
Will XRP drop to $2?
There is visible doubt on the market. Trading volume is low and the RSI drops towards 41, indicating weakening momentum. Meanwhile, the 100- and 200-day averages are moving closer together, potentially leading to a death cross – a technical signal that often precedes a sharp decline.
There are hardly any strong support levels below the current price. The zone around 2 dollars can provide psychological support, but there are no real buyer zones there. If selling pressure increases – for example due to unrest in the broader crypto market or price fluctuations in Bitcoin (BTC) – XRP could quickly fall towards 2.10 or even 2 dollars.
Without a quick turnaround, the decline threatens to continue for the time being.
Source: https://newsbit.nl/xrp-koers-daalt-is-het-cruciale-2-dollar-niveau-in-gevaar/
