XRP Drops 5% to $2.47 as Bears Break Key Support Level

XRP has fallen 5% to $2.47 after breaking below the $2.50 support level, triggered by a surge in institutional selling. During this trading session, XRP experienced a notable decline from $2.60, marking one of its largest single-day decreases. The breach of the $2.50 psychological mark resulted in a significant trading volume increase of 158%, totaling 169 million tokens traded. Traders are now watching the $2.43–$2.46 range for potential stabilization or further declines if the price drops below $2.40. This downturn has reinforced Resistance at $2.60, where XRP’s price faced repeated rejection in recent weeks. Momentum indicators have shifted to neutral-to-bearish territory, with immediate support now at $2.40–$2.42. A close below this could lead to further declines toward $2.30–$2.33. Market sentiment appears cautious, with ongoing analysis of potential accumulation zones and resistance challenges ahead.

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