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

XRP experienced a significant decline of nearly 8%, dropping from $2.65 to $2.48 as institutional selling intensified and relevant support levels were breached. This downturn followed negative reactions in the broader cryptocurrency market to hawkish signals from the Federal Reserve, despite some improvements in U.S.-China trade relations. The critical support level of $2.46 failed to hold, leading to increased selling pressure marked by a high trading volume of approximately 392.6 million tokens—nearly 400% of the average. Technical analysis revealed a clear bearish trend, with resistance levels forming between $2.46 and $2.50, while potential downside targets lie between $2.30 and $2.40. Traders are advised to monitor market momentum and whale activities closely, as the current climate favors continued weakness unless a bounce occurs above established resistance levels.

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