XRP faces a crucial moment as the digital asset tests critical support at $2.20, with bears maintaining strong selling pressure across multiple timeframes. Currently trading at $2.23, XRP’s market capitalization stands at $129 billion amid heightened volatility and significant trading volume of $2.8 billion.
Market Snapshot
- Current Price: $2.23
- 24h Trading Range: $2.21 – $2.36
- Market Cap: $129 billion
- 24h Volume: $2.8 billion
Technical Analysis
The hourly chart shows concerning bearish momentum as XRP struggles to maintain support levels. This price action comes amid broader market uncertainty and follows the recent developments in the XRP ETF race, which has added another layer of market complexity.
Key Support Levels
- Primary Support: $2.20
- Secondary Support: $2.15
- Major Support: $2.00
Expert Analysis
“The current price action suggests XRP is at a critical juncture,” says crypto analyst Sarah Chen. “A decisive break below $2.20 could trigger a cascade of selling pressure, potentially testing the psychological $2.00 level.”
Market Implications
The current downside pressure could have significant implications for XRP’s short-term trajectory. Traders should watch for potential bounce attempts from the $2.20 support level, while maintaining appropriate risk management strategies.
Source: Bitcoin.com