📉 $XRP Risks Losing the $2 Level
⚠️ Bearish Signals Highlighted:
A classic head-and-shoulders pattern is forming on the daily chart—typically signals a breakdown toward $2.00 .
If XRP breaks below the $2.30 neckline, targets include $2.15 and possibly $1.60 .
A recent inverted cup-and-handle pattern points to a potential 19% drop toward $1.71 .
📊 Market Data Reinforcing Bearish Outlook:
XRP open interest is down ~18% to $4.5 billion—reduced leverage often precedes downside .
Spike in liquidations: roughly $12 million in long positions were wiped recently, adding pressure .
Trading volume surged ~70% on the latest drop—every dip is being aggressively sold .
🔍 What to Watch
Scenario Key Level Risk/Opportunity
Breakdown Below $2.30 Could slide toward $2.00 → $1.71–$1.60
Reclaim & Hold Above $2.30+ Bearish patterns invalidate; rebound possible
Short-term traders: Consider tight stop-losses around $2.30, and scale in if price dips near $2.00.
Long-term bulls: A dip into the $1.70–$1.80 range could be an attractive entry—just tread carefully.
✅ Summary
XRP is flirting with danger: if it fails to hold above $2.30–$2.00, deeper drops toward $1.60–$1.70 become likely. But a strong bounce above $2.30 could signal a reversal. Stay alert around these zones!
