🔥🔥🔥𝐑𝐢𝐩𝐩𝐥𝐞’𝐬 (𝐗𝐑𝐏) 𝐏𝐫𝐢𝐜𝐞 𝐒𝐭𝐫𝐮𝐠𝐠𝐥𝐞𝐬 𝐀𝐦𝐢𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐭𝐫𝐚𝐜𝐞𝐦𝐞𝐧𝐭💸💸💸

Amid a market-wide downturn, Ripple’s $XRP has experienced a steeper decline than many other cryptocurrencies, now hovering around $2. This comes as analysts examine critical support levels that may determine the asset’s trajectory. If XRP fails to maintain its position above the $1.96 mark, it risks a steep decline toward $1, according to experts.

$XRP saw a meteoric rise in recent months, surging from $0.60 to nearly $3 within a matter of weeks, largely propelled by market optimism and broader momentum. However, this rally hit a ceiling in early December, as XRP struggled to breach the $3 barrier. The launch of Ripple’s much-anticipated stablecoin in mid-December briefly reignited bullish sentiment, pushing prices higher. Yet, the cryptocurrency has since lost steam, recording a 25% decline since its December 17 peak. Over the past day, XRP has dropped by another 6%, barely holding onto the $2 threshold.

Market analysts now identify the $1.96 support level as a crucial juncture for XRP. Should this level fail, Ripple’s token could plunge toward $1, warns Andrew Griffiths. He cautions that the current bullish pennant pattern could collapse if Bitcoin’s dominance wanes further, dragging XRP into lower price territory. On the flip side, some analysts, like MAGIC, suggest that maintaining support at $1.98 could enable XRP to rebound and challenge new highs. MAGIC identifies $3.53 as a key resistance level to watch, signaling potential for a renewed rally if the current bullish flag formation holds.

Ripple’s fate in the coming days depends on its ability to navigate these critical levels amidst a challenging market environment. While the potential for recovery exists, failure to stabilize could lead to further downward pressure.

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