The post Why is XRP Price Going Down Today? appeared first on Coinpedia Fintech News
The price of XRP has been under pressure lately, and traders are closely watching some key levels on the charts. After recently hitting a high near $2.47, XRP has struggled to hold steady and has been stuck in a downtrend.
At the time of writing, XRP is trading at around $2.17, slightly recovering after dipping to a low of $2.13 earlier. The price is battling to stay above the important average level of $2.15, but it hasn’t been easy.
Important Levels To Watch
Right now, XRP is retesting an important Fibonacci support zone between $2.10 and $2.15. This level has provided strong support in the past, and bulls will need to defend it to prevent further losses.
If the price drops below $2.10 and confirms with a daily candle close, things could get worse. In that case, the next support levels to watch would be around $2.05 and then possibly closer to $2.00.
A break below $2.00 could be bad news for XRP, with the risk of a fall towards $1.80–$1.70.
Resistance on the Way Up
On the upside, there’s tough resistance waiting between $2.30 and $2.34, with more sellers likely around $2.44 and then between $2.56 and $2.62. Unless XRP can break through these zones, it’s unlikely to see any strong bullish moves soon.
XRP’s recent drop follows broader market weakness. Bitcoin and other major cryptocurrencies also fell and tested key support levels after uncertainty over U.S. tariff news weighed on investor sentiment.
However, there’s a silver lining for XRP holders. Ripple’s long-running legal battle with the SEC might be nearing its end, and if the outcome is favorable, it could reshape XRP’s regulatory status. This would be a positive for the token and might give its price a much-needed boost in the near future.
The post Why is XRP Price Going Down Today? appeared first on Coinpedia Fintech News
The price of XRP has been under pressure lately, and traders are closely watching some key levels on the charts. After recently hitting a high near $2.47, XRP has struggled to hold steady and has been stuck in a downtrend. At the time of writing, XRP is trading at around $2.17, slightly recovering after dipping …
This articles is written by : Nermeen Nabil Khear Abdelmalak
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