XRP Price News: Plunges 5% as Bitcoin Falls Under $93,000

XRP experienced a sharp decline of 5% as it fell below $2.30 amid profit-taking by traders and a bearish outlook following Bitcoin's drop below $93,000. This downturn comes in a broader context of weak risk sentiment in the cryptocurrency market, with technical signals dominating trading behavior. Following its recent ETF release, which initially showed strong volume but failed to maintain gains, XRP struggled to break through the resistance at $2.30. Market conditions are still viewed as a short-term rebound within an overall downtrend, suggesting potential for deeper price corrections. XRP's price fluctuated between $2.27 and $2.18, showing resistance at $2.30 where heavy selling occurred. Traders are closely monitoring the $2.20 level, with a failure to hold this support possibly leading to a drop to $2.02–$1.98. The flows into the new ETF could play a critical role in influencing XRP's short-term price action moving forward.

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