🚨The price of XRP has experienced a notable drop recently. It is currently trading around 2.30 USD, with an intraday variation between 2.08 USD and 2.36 USD.🚨

What do you think?

In recent days, XRP has lost more than 20% of its value, reaching levels not seen since November 2024. This downward trend is attributed to several factors:

Correlation with the cryptocurrency market: The widespread decline in the crypto market, influenced by investor risk aversion and recent weakness in tech stocks, has negatively impacted XRP.

Macroeconomic and geopolitical events: Recent statements from U.S. President Donald Trump regarding the imposition of tariffs on Mexico and Canada have generated uncertainty in the markets, also impacting the cryptocurrency sector.

Security incidents: The hacking of the Bybit platform, where 1.5 billion dollars in digital assets were stolen, has undermined investor confidence in the crypto ecosystem.

From a technical perspective, analysts point out that if XRP breaks the key support level of 2.00 USD, it could trigger an additional drop towards 1.50 USD. This projection is based on chart patterns and the decrease in open interest in XRP futures contracts.

However, some experts identify a possible "hidden bullish divergence" in the technical indicators, which could suggest a rebound in the short term. Nevertheless, to confirm a reversal of the downward trend, XRP would need to surpass and maintain levels above key resistance, such as 2.60 USD.

In summary, although there are technical signals that could indicate a recovery, the general trend of XRP remains bearish. Investors should be attentive to the mentioned support and resistance levels, as well as to the macroeconomic and security events that may influence the cryptocurrency market.🫡⚒️💎