XRP Price News: Breakdown Sends Ripple-Linked Token Toward $2.20 Defense Zone
CoinDesk
XRP plunged 7.5% to $2.22 after breaking key support, with high volume suggesting institutional distribution.Summary
XRP experienced a sharp 7.5% decline, falling from $2.40 to $2.22 after sellers overwhelmed the $2.28 technical support level, triggering liquidations. This breakdown was accompanied by an 84% surge in trading volume, indicating heavy institutional activity. Although XRP briefly stabilized near $2.20 and saw a minor rebound, it failed to reclaim the $2.28 level, confirming a bearish shift. Technical analysis shows a completed descending channel pattern, negative momentum indicators, and volume patterns suggesting distribution. Traders are now watching the $2.20 support zone; a break below it could expose $2.10–$2.00, while recovery requires closing above $2.28.
(Source：CoinDesk)