Ripple (XRP) plummets 6%! The cryptocurrency market is in turmoil again
Ripple's XRP coin has dropped harder than other coins in the cryptocurrency market, falling 6% in just 24 hours, now struggling to hold at around $2. Experts are saying that if XRP cannot maintain $1.96, it might plummet to $1.
Previously, XRP was incredibly popular, surging from $0.6 to nearly $3 in just a month due to the 'Trump effect.' Unfortunately, that momentum faded in early December, and XRP couldn't reach new heights.
By mid-December, when Ripple's stablecoin was released, XRP's price surged again. Unfortunately, the good times didn't last; since the peak on December 17, XRP has dropped 25%.
Especially in the last 24 hours, XRP fell directly by 6%, barely holding at $2, making observers anxious.
Now many experts are watching the $1.96 price point, saying this is XRP's critical support. Andrew Griffiths noted that if XRP falls below this price, it could drop all the way down to around $1.
However, some experts believe XRP can still recover. For example, MAGIC mentioned that as long as XRP can hold above $1.98, there is still a chance for a rebound.
Now the $1.96-$1.98 range is the critical battlefield for XRP. If it can stabilize within this range, XRP might be able to surge again, and it’s even possible for it to rise to $3.53. But if it can't hold, the selling pressure might increase, and XRP's price could drop all the way to $1.
Therefore, investors are closely monitoring XRP's performance at this key support level, hoping to gain insights into future trends.
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