Is XRP crashing? The sustained break below $2 signals trouble
XRP's price has broken below the key $2.00 support, signaling potential further decline toward $1.63.Summary
The article suggests that XRP's price is signaling trouble following a sustained technical breakdown below the long-held $2.00 support level, a situation likened to a dam breaking and unleashing supply. Unlike previous dips that saw quick V-shaped recoveries, XRP has remained below $2.00 since Sunday. Bearish technical indicators support this outlook, including lower trends in the 50-, 100-, and 200-day Simple Moving Averages (SMAs) and a MACD histogram showing strengthening downside pressure. This breakdown suggests a potential decline toward $1.63, which corresponds to the 61.8% Fibonacci retracement level of its 2024 low to 2025 high. However, investors should watch for Thursday's U.S. inflation data; softer-than-expected numbers could spark a 'risk-on' mood, potentially boosting XRP. For a bullish revival, XRP bulls need to break the current downtrend pattern by rising above the late November high of $2.27.
(Source：CoinDesk)