🚨 XRP Price Suffers Downtrend as Overvaluation Delays Recovery To $2.50
XRP price faces pressure as overvaluation delays recovery; NVT Ratio signals potential price correction ahead. Long-term holders actively accumulate, providing crucial support amid a two-week downtrend near $2.27.
💡 Quick Take:
XRP is currently trading at $2.30, reflecting a two-week downtrend. It is holding just above a key support level at $2.27. Securing this support is vital for the altcoin to prevent further declines and maintain a foothold for potential gains. If bullish factors continue to strengthen, XRP could bounce off the $2.27 support level.
Breaking through the downtrend could enable XRP to flip $2.38 into new support, paving the way for a rise toward $2.56. This recovery would signal renewed investor confidence. Conversely, if XRP loses support at $2.27, the price may drop further to $2.12. Such a decline would invalidate the bullish outlook and extend the ongoing downtrend, leading to increased losses for investors and sustained bearish pressure.