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

XRP fell 5% to $2.47, breaking below the $2.50 support level, attributed to increased institutional selling. The breach triggered a significant increase in trading volume by 158%, with 169 million tokens exchanged. This decline marked one of the largest single-day losses this month, occurring during a trading session that saw XRP prices drop from $2.60 to $2.47. The break below $2.50 was notable as it confirmed a shift in market structure following a period of tight consolidation. Market analysis suggests that further declines could occur if XRP fails to stabilize within the $2.43–$2.46 range, with the next support levels identified at $2.40–$2.42. Current momentum indicators show a bearish trend, signaling potential additional losses if support levels are compromised.

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