- XRP has dropped over 4% in 24 hours, wiping out $6 billion from its market cap and falling to $2.18 amid a broader crypto sell-off.
- Despite recent volatility, it remains up 320% year-over-year, with traders watching key support at $2.10 and resistance near $2.30.
XRP has taken a significant hit in the latest crypto market downturn, shedding over 4% in the past 24 hours and falling to $2.18. This drop from $2.28 has triggered a sharp decline in XRP’s market capitalization, which now stands at $128.21 billion—down from $134–135 billion just a day earlier. The rapid $6 billion loss reflects the pressure facing digital assets across the board.
A Painful Week for XRP
The week has been particularly rough for XRP holders. The token has dropped more than 10% over the past seven days after peaking at $2.44. During this period, XRP’s market capitalization has shrunk by an estimated $15 billion, underscoring the intense sell-off in the broader crypto market.
Despite the recent pullback, XRP remains up 320% over the past 12 months. It continues to trade well above its 200-day simple moving average—a bullish long-term indicator. Still, short-term volatility has become more pronounced. Over the past 30 days, only 13 daily closes have been positive, translating to a win rate of just 43%.
Support and Resistance Levels in Focus
Traders are now closely watching two critical levels. Immediate support appears to be forming in the $2.10 to $2.15 range. A break below this zone could trigger further losses. On the upside, resistance near $2.30 is acting as a cap for any recovery efforts.
Whether XRP can hold current levels or see additional declines will likely depend on broader market sentiment and key macroeconomic developments. If digital assets continue to face pressure from external factors, including inflation data or regulatory moves, XRP could face additional headwinds in the near term.
For now, the $2.10 support level remains the line in the sand. Bulls will be hoping it holds, while bears may see any breakdown as confirmation of further downside.
ALSO READ:35 Million Users and Counting: What’s Next for Pi Network?
DISCLAIMER:
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of the publisher. The publisher does not endorse or guarantee the accuracy of any information presented in this article. Readers are encouraged to conduct further research and consult additional sources before making any decisions based on the content provided.