XRP plunges 6% as bitcoin briefly drops under $73,000
XRP dropped about 6.3% to $1.54 amid a broad crypto sell-off driven by market weakness, not token-specific news.Summary
XRP experienced a sharp decline of about 6.3%, falling to roughly $1.54 from $1.65, as part of a general risk-off movement in the cryptocurrency market that pressured major and high-beta tokens. There was no specific catalyst for XRP's drop; instead, the move was attributed to positioning and accelerated selling once the key technical support level of $1.60 was breached, leading to high-volume activity suggesting forced selling. Technical analysis indicates that former support at $1.60–$1.62 now acts as resistance. Traders suggest XRP must hold near $1.50 and reclaim $1.60–$1.62 to alleviate downside pressure; failure to hold $1.50 could lead to further declines toward $1.38 or potentially $1.02 if broader market weakness continues.
(Source：CoinDesk)