On June 5, tensions between former U.S. President Donald Trump and tech billionaire Elon Musk shook the crypto market. One of the biggest impacts was on XRP, which dropped by 6.82% from its daily high.
This drop is serious because XRP might fall below $2, a level it's stayed above since December 2024. Falling below $2 could lead to a 25% crash, with the next strong support only around $1.50.
$XRP had been doing really well recently, rising over 300% since November 2024. Many investors were excited about a possible big event coming on June 16, which had boosted confidence in XRP.
As of now, $XRP is trading around $2.13, down 3.2% in the past 24 hours. It dipped to $2.0711 but bounced back slightly. At the same time, XRP’s trading volume jumped 82% to $3.52 billion, showing that a lot of people are buying and selling during this market turmoil.