XRP Price News: Plunges 5% as Bitcoin Falls Under $93,000
XRP dropped nearly 5% to $2.18 after failing to break the $2.30 resistance level amid weak market sentiment.Summary
XRP experienced a sharp retreat, plunging 4.58% to $2.18 after failing to sustain a breakout attempt above the $2.30 ceiling, with institutional volume confirming resistance strength. This decline occurred as broader crypto markets faced pressure from softening risk sentiment and technical trading patterns, suggesting a short-term rebound within a larger decline, according to analysts. Derivatives data showed significant long liquidations totaling $28 million in the last 24 hours, mainly from long positions, indicating aggressive unwinding. Key levels for traders are $2.20 as crucial support; holding this level could lead to another attempt at $2.30–$2.40, while a drop below $2.18 exposes the token to a rapid fall toward $2.02–$1.98. Sustained inflows into the new Canary Capital XRPC spot ETF are cited as a potential catalyst for spot liquidity.
(Source：CoinDesk)