“XRP Price Fluctuations Trigger Market Storm: Can it Break the $2 Support Level?”

This Monday, the XRP price stabilized around $2.16, but market sentiment has gradually deteriorated, with derivative traders betting on a decline in XRP prices. Currently, $2 has become an important support level for XRP; however, market uncertainty is intensifying, leading to a sharp decline in trading volume. Whether XRP can break resistance and resume its upward trend may depend on upcoming technical performance and market sentiment.

In terms of technical analysis, XRP recently attempted to rebound to $2.39 but remains below the 50% Fibonacci retracement level of $2.50. The RSI and MACD indicators show bullish sentiment, but XRP must break $3 to confirm a sustained upward trend.

Derivative data shows that the long-short ratio for XRP is below 1, indicating a pronounced market wait-and-see sentiment. Although whale trading volume has decreased, the positive funding rate indicates that medium to short-term demand for XRP still exists.

The progress of the SEC vs. Ripple case and the delay in the XRP ETF application may become focal points of market attention, and it is expected that XRP's future movements will be strongly influenced by these factors.