The Crypto Market Changes Dramatically, XRP's Fate Draws Sympathy
In the recent round of adjustments in the cryptocurrency market, many digital currencies have suffered severe losses, while XRP's performance is particularly noteworthy, with its price drop far exceeding its peers, lingering around the sensitive zone of $2.
At this moment, market analysts are closely monitoring XRP's trend, trying to capture the potential momentum of this digital asset from the complex charts. They point out that a crucial support level is facing a severe test, and if it fails, XRP may plunge into the abyss of $1.
Looking back, XRP once rode the wave of market rebound triggered by Trump, soaring all the way up, skyrocketing from a low of $0.6 to nearly $3 in just one month. However, the good times didn’t last long; the sprint at the beginning of December failed to break through the $3 mark, instead becoming a turning point for its upward momentum.
Although the subsequent launch of stablecoins briefly injected new vitality into XRP, leading to a considerable surge, this momentum could not be sustained. Since reaching a local high on December 17, XRP has quietly slipped, with a drop exceeding 25%.
The last 24 hours have been particularly bitter for Ripple's cross-border tokens. XRP's price has once again declined, with a drop of 6%, struggling to maintain the psychological barrier of $2.
Many industry observers believe that $1.96 has become a lifeline for XRP to continue its previous excellent performance. Among them, Andrew Griffiths candidly pointed out that if this support level fails, XRP could plummet straight to $1. His remarks on social media have sparked a wave of discussion.
"The trading pattern of XRP seems to show signs of a bullish pennant, but if this pattern collapses, it will quickly fall below $1 into the abyss." Griffiths's words reveal concerns about XRP's future, "As Bitcoin has already peaked this year, we may witness further declines in XRP's price.
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