XRP Price Volatility: Price Surge Reverses After Stablecoin Release, Future Trend Faces Key Test

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At the beginning of this week, XRP welcomed good news as Ripple announced that its long-awaited stablecoin would officially be released for trading, causing XRP's price to surge from below $2.4 to over $2.7. However, this increase did not last, as the market crashed, and XRP quickly fell back, plummeting 28% from its peak to $1.96.

During this pullback, many XRP whales seized the opportunity to increase their holdings, helping the price rebound slightly to near $2.4. However, XRP's momentum has again faltered, and it is currently struggling to stabilize above $2.2. According to crypto analyst Ali Martinez, $2.2 is a crucial level for XRP's future trend. If XRP can maintain this level, it may usher in a new round of increases, targeting $2.7. Conversely, if it falls below the $2 mark, it may again enter a downward trend.

Currently, XRP's market capitalization has fallen back below $130 billion, with the third position being taken by USDT, which has a market cap close to $140 billion. The next few days will be crucial in determining whether XRP can achieve a 'Santa Claus rally.'

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