𝘾𝙖𝙣 𝙓𝙍𝙋 𝙋𝙧𝙞𝙘𝙚 𝙃𝙤𝙡𝙙 𝘼𝙗𝙤𝙫𝙚 $2 𝘼𝙢𝙞𝙙 𝘽𝙚𝙖𝙧𝙞𝙨𝙝 𝙋𝙖𝙩𝙩𝙚𝙧𝙣 𝙖𝙨 𝙒𝙝𝙖𝙡𝙚𝙨 𝙎𝙚𝙡𝙡 150𝙈 𝙏𝙤𝙠𝙚𝙣𝙨?

XRP price struggles to defend support at $2 amid headwinds as a bearish chart pattern and whale selling suggest a breakdown is likely.

XRP price is down 5% in 24 hours as investors abandon risk assets due to geopolitical concerns. On June 13, XRP traded at $2.14 with an 80% surge in daily trading volumes, which stood at $4.6 billion. The price continues to defend the $2 support level, but the emergence of a bearish rounding top pattern and the recent sale of 150 million Ripple tokens by whales have sparked concerns about whether it could lose this critical support.

XRP price has formed a rounding top pattern on the four-hour chart, which often signals that a trend is about to flip bearish. In fact, Ripple’s native token had already breached the neckline support of this pattern after the widespread crypto market crash caused a steep decline.