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

XRP has dropped 5% to $2.47, breaking below the crucial $2.50 support level as institutional selling increased across exchanges. This significant breach led to a 158% spike in trading volume, demonstrating heightened market activity. Prices fell from $2.60 to $2.47 within a 24-hour period, marking one of the largest declines this month. The swift movement below $2.50 triggered a wave of algorithmic selling, and ongoing trading patterns suggest a possible deeper correction if the price falls below the $2.40-$2.42 area, potentially leading to further declines. Despite an attempt to stabilize between $2.43 and $2.46, market sentiment appears cautious, with reduced risk appetite for altcoins compared to broader crypto strength. Key resistance remains at $2.60, reinforcing bearish momentum until XRP can reclaim this level. Traders are closely watching price stability and support levels, anticipating further market movements.

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