Cryptocurrency Market Continues to Struggle, XRP Faces Comprehensive Breakdown
XRP Price Fluctuates in a Highly Volatile Market
The cryptocurrency market continues to fall into a state of difficulty. In the past 24 hours, XRP's price has dropped over 10%, breaking the important threshold of 2 USD. The total market capitalization of cryptocurrencies has decreased to 3.04 trillion USD, losing nearly 5% during the same period. Bitcoin has fallen to 99 thousand USD, down more than 4%, while Ethereum has dropped over 10%, down to 2,179 USD. Leading altcoins like Solana, BNB, Dogecoin, and Cardano also recorded declines ranging from 4% to 9%. Market sentiment has turned negative, with the Fear and Greed Index dropping to just 40 points, reflecting a high-risk investor sentiment.
Short-Term XRP Price Trend Prediction
Daily Chart Analysis
On the daily chart, XRP has broken the significant support level around 2.07 USD. Experts warn that if this level does not hold, the price may continue to drop further, and as predicted, this has happened. The downward trend has started to extend towards the next support zones around 1.92 – 1.95 USD. If XRP falls below 1.91 USD, it is highly likely to head towards the 1.80 – 1.79 USD range, where Fibonacci levels and past price action indicate potential support.
Short-Term Outlook
Short-term charts have not shown clear recovery signals. Analysts expect a bullish divergence to confirm the possibility of a bottoming out, but no official signals have been seen yet. This situation indicates that XRP's trend remains negative. Unless Bitcoin and the entire cryptocurrency market show signs of improvement, XRP is likely to continue facing strong downward pressure.
Market Impact and External Factors
The cryptocurrency market remains in an extremely volatile state, largely due to the increasing dominance of Bitcoin and global instability. The policies of the Federal Reserve of the United States are also exerting significant pressure, as analysts believe the Fed has not lowered interest rates due to rising instability. Current geopolitical tensions are causing investors to be more anxious, further disrupting an already sensitive and volatile market.
Summary:
The current cryptocurrency market is clearly showing a downtrend. XRP, with a support level currently being tested, may continue to face pressure in the near future. It is predicted that if there is no positive change from major coins like Bitcoin, XRP's chances of recovery will remain limited. Investors should closely monitor technical indicators and global political and economic developments to make informed decisions in this volatile context.
Source: https://tintucbitcoin.com/xrp-hom-nay-giam-10-duoi-2-000-usd/
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