The XRP price has seen a significant drop, falling by 6.77% over the last 24 hours. This article examines the reasons for the decline and potential support levels.
Decline of XRP Price
The XRP price has dropped by 6.77% over the last 24 hours. On the hourly chart, the price is falling following a breakout of the local support at $2.
Support and Price Levels
If sellers can maintain the initiative, a test of the $1.85-$1.90 range is likely in the near future. On larger time frames, the XRP rate has broken the support at $2. As long as the rates remain below this mark, traders may witness a continuing decline to the $1.80 level.
Prospects for Next Week
From a midterm perspective, there are currently no reversal signals. If the XRP price continues to decline, there is a high chance of testing the support at $1.77 next week.
At present, XRP is trading at $1.9414. The ongoing price decline further highlights market uncertainty and the need for careful analysis.
