The crypto market is witnessing a decline in prices for XRP and other assets. XRP has fallen below $3, raising concerns among investors.
Sales Fuel Widespread Liquidations
In the last 24 hours, a total of $464.70 million worth of crypto positions have been liquidated, with $380 million coming from long positions. This indicates that widespread sales have rapidly eroded leveraged positions, contributing to a downward movement.
XRP Price Analysis: The Critical $2.81 Threshold
On the technical chart, the $2.81 level is monitored as a key point of reference for XRP. Approximately 1.7 billion coins are accumulated around this price level from previous consolidation zones, suggesting that falling below it could significantly deteriorate risk perceptions.
General State of the Crypto Market
According to CoinMarketCap, XRP is trading at $2.98 at the time of the report. Market trends and exchange data reflect that the pullback is fundamentally fueled by broad-based selling pressure and liquidations.
XRP and other assets continue to face pressures amid a general market downturn. Investors are closely monitoring key price levels.
