Will XRP Plunge Another 9%? Watch This Key Level for Signals!"

XRP is currently facing significant selling pressure, with the crucial 200 EMA support level being tested. If XRP drops to $0.587, $32.41 million in short positions are at risk of liquidation. Recent market movements include a breakdown of the $0.556 support level, leading to over $2.71 million in position liquidations. Ripple also recently unlocked 1.8 billion XRP tokens worth $981 million, increasing the circulating supply and contributing to a bearish outlook. Despite these challenges, whales have transferred 75.36 million XRP tokens valued at $40.2 million from Binance to an unknown wallet, signaling potential strategic moves.

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