XRP Price News: Ripple Plunges 8% as Bitcoin Falls Under $107,000

XRP experienced a significant decline of nearly 8% as it plunged through the $2.46 support level, with increased institutional selling and broader market pressures. Crypto markets reacted adversely to the Federal Reserve's hawkish signals despite improvements in US-China trade relations. The price of XRP slid from $2.65 to around $2.48, with an alarming volume peak of 392.6 million tokens, almost 400% of its daily average. This downturn was marked by two intense selling waves and a minimal volume during the final decline, suggesting investor exhaustion. Technical indicators reflected a bearish trend, showing weakness with resistance forming around $2.46 to $2.50. Traders are advised to approach current levels with caution, noting a potential fall to targets of $2.30 or below if support fails. Moreover, monitoring on-chain whale flows and futures open interest will be critical in assessing market conditions moving forward.

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