The race of XRP has fallen by 5.63% in the last 24 hours and is currently at $ 2. This sharp fall was caused by the new import duties of the US President Donald Trump, who were announced on 2 April. The measure brought the entire cryptomarkt to the rudder, with a loss of more than $ 140 billion in total market value as a result.
Although XRP succeeded in standing above the psychological limit of $ 2 on 1 April, it now seems strongly that this level will still collapse. On an annual basis, XRP is now 3.69% in the minus.
Technical indicators indicate weakness
From a technical perspective, XRP is in a weak position. The price is currently moving under both the 50-day and the 100-day advancing average, which indicates a bearish trend. The support area around $ 2 is currently the last bastion for the bulls.
If XRP closes below this level, the next important support is around $ 1.80. This corresponds to the 200-day advancing average, which often functions as the last line of defense in a correction. A breakthrough below this point would open the door to further falls towards $ 1.60 or even lower.
Conclusion: $ 2 is the crucial level
The coming days will be crucial for XRP. If the race manages to stay above $ 2 and manage to realize a lock above this level, that could be a first sign of recovery. If this is not forthcoming, then further decrease to $ 1.80 is obvious.
Traders do well to keep a close eye on the price trend, with special attention to price action around the $ 2 limit.
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Source: https://newsbit.nl/xrp-koers-zakt-naar-2-breekt-cruciale-steun-of-volgt-een-herstel/
