🔥 XRP Holds $2.20 Support Amid Market Turmoil
Despite SEC dropping charges and optimism around Grayscale’s XRP ETF filing, XRP has dropped 20% in February. The decline was fueled by Trump’s tariff announcement, inflation fears, and the Bybit hack, pushing the price to $2.15 before rebounding to $2.20.
📊 Massive Sell-Offs Slow Rebound Prospects
XRP traders executed 2 million transactions on Feb. 25, coinciding with market panic. High sell volume suggests that previous buyers may exit at break-even levels, creating strong resistance near $2.32 and $2.51. Without a major bullish catalyst, XRP may struggle to break higher.
⚠️ Bearish Signals Dominate XRP Price Action
With Bollinger Bands showing oversold conditions, dip buyers might step in. However, the 50-day moving average at $2.51 and BBP indicator at -0.50 confirm bearish control. A drop below $2.16 could push XRP to $2.00, while reclaiming $2.32 could spark recovery hopes.
📈 What’s Next for XRP?
XRP needs strong buying momentum to break resistance and reverse its downtrend. Until then, the path of least resistance remains downward unless a key bullish event sparks demand.
⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
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