🚨$XRP XRP/USDT – Facing Heavy Downside Pressure!

📊 Current Price: $2.0736 (-13.75%)

🔝 24H High: $2.4317

🔻 24H Low: $2.0505

💰 Volume:

XRP: 862.99M

USDT: 1.96B

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Market Analysis

Ripple's XRP is under significant bearish pressure, testing $2.05, the daily low and a critical support level. The drop represents a sharp 13.75% decline in the past 24 hours, reflecting strong selling momentum.

Resistance Levels:

$2.17 – First hurdle to overcome for recovery.

$2.30 – Key level to watch for trend reversal.

Support Levels:

$2.05 – Immediate support level.

$2.00 – Psychological and technical support zone.

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Trading Strategy

1. For Buyers:

Accumulate cautiously near $2.05 if XRP shows signs of stabilizing.

Look for a breakout above $2.17 as confirmation of bullish momentum.

2. For Sellers:

Consider shorting rallies toward $2.17, with stops above $2.30.

A breakdown below $2.05 could signal further downside to $2.00 or lower.

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Key Insights

Bearish Sentiment Dominates: Market confidence is low, with aggressive selling pushing XRP lower.

Oversold Conditions: Watch for potential short-term recovery as prices near oversold levels.

High Volatility: Caution is advised as large trading volumes indicate strong market activity.

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Conclusion

XRP/USDT is at a critical juncture. If $2.05 holds, we may see a relief rally; otherwise, expect further declines.

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