Key levels determine the fate of XRP! Will it rise to $2.7 or fall below $2? It's uncertain!

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The week started off quite favorably for XRP, as the company announced on Monday that its long-awaited stablecoin would officially be launched for trading the following day.

XRP surged significantly, skyrocketing from below $2.4 to above $2.7 as the release day approached. However, shortly after, its trend reversed, and a market crash severely impacted its decline.

In fact, Ripple's token plummeted 28% from the aforementioned local high to $1.96. Many XRP whales seized this opportunity to buy more tokens, which may help the asset regain some ground, rising to nearly $2.4 yesterday.

However, it once again lost momentum and is currently struggling to hold above $2.2. According to renowned cryptocurrency analyst Ali Martinez, this level is particularly important for XRP's future price trend.

If it successfully maintains this level, the token may revive recent bullish activity and push towards $2.7 again. Conversely, if it falls below $2, it could potentially drop below $2 for the third time in December.

Earlier today, XRP did break this line, dropping to $2.17, but at least for now, it has successfully rebounded. The coming days are crucial for determining XRP's closing price at the end of the year and whether the much-anticipated Santa Claus rally will indeed occur.

With the recent adjustments, XRP's market capitalization has fallen below $130 billion again. This means it has relinquished its third position to USDT, which has a market capitalization close to $140 billion.

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