XRP News Today: XRP’s $2.4–$2.5 Support Level Under Pressure: Will It Bounce Back or Drop Further?
- XRP faces critical $2.4–$2.5 support test amid broader crypto market declines, with technical indicators hinting at potential rebound if buyers defend this range. - Ripple's institutional expansion through Palisade acquisition and chip-enabled prepaid partnerships aims to drive long-term value despite 15% weekly token decline. - Key technical levels at $2.60 (200-day EMA) and $1.90 (June support) could determine whether XRP follows DOGE's volatile pattern or establishes sustained bullish momentum. - Mark
XRP, Ripple’s digital currency, has demonstrated notable stability even as the wider crypto market faces a downturn. Technical signals point to a possible recovery, with the token currently holding above its 200-week moving average at $2.5. Liquidity remains robust in the $2.4 to $2.5 range, as highlighted in an
Recent trading patterns have brought attention to a possible harmonic formation, a charting method used to spot potential reversal zones. Market participants are watching closely to see if
Ripple’s recent business moves have also fueled discussion about XRP’s prospects. The company’s acquisition of Palisade, a crypto custody provider, is part of its strategy to broaden institutional offerings such as custody, payments, and prime brokerage, according to a
The overall crypto sector is experiencing downward pressure, with
Ripple’s latest results have also been impacted by broader economic challenges. The token faces a 10% risk of further decline due to reduced retail participation and ongoing deleveraging, according to
Despite the market swings, some experts remain hopeful. “If XRP stays above $2.40, a technical bounce led by bargain hunters is possible,” one strategist noted, referencing past trends. Still, they warn that a drop below $2.18 could speed up losses toward $1.90.
Ripple’s push into institutional markets, including its collaboration with Carta to launch chip-based prepaid solutions, could serve as a long-term growth driver. The company’s latest earnings call pointed to advancements at its Indiana production site and progress with closed-loop prepaid projects, though profit margins remain under pressure.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin News Today: Bitcoin Hits $100K: Can Bears Take Control or Will a Festive Rally Begin?
- Bitcoin fell below $100,000 amid macroeconomic uncertainty, institutional outflows, and technical breakdowns, losing 15% from its October peak. - Fed rate-cut delays and U.S.-China tensions worsened risk-off sentiment, while crypto's lack of yield made it vulnerable to tighter monetary policy. - Technical indicators show bearish momentum with RSI at 31.8 and MACD declining, as $800M was withdrawn from Bitcoin ETFs in a week. - Analysts caution a potential "Santa Rally" if rates cut and liquidity improves
NYC Mayoral Election: The Role of Prediction Markets Sparks Discussion Among Democrats
- Zohran Mamdani, NYC mayoral race frontrunner, holds 93-95% victory odds via prediction markets, backed by Obama but facing intra-party concerns over his progressive policies. - His affordability-focused platform—rent freezes, free transit, wealth taxes—energizes progressives while drawing Republican attacks and fears of emboldening conservatives. - Prediction markets ($397M traded) now shape public discourse, with critics warning they blur financial speculation and democratic debate through viral social
Ethereum News Update: Will ZKsync’s Profit-Focused Token Help Stabilize $ZK’s Falling Price?
- ZKsync proposes restructuring $ZK token from governance to revenue-linked model, tying value to on-chain interoperability fees and enterprise licensing. - Dual revenue streams will fund buybacks, staking rewards, and ecosystem growth via community-governed mechanisms, decentralizing economic control. - Market reacted strongly: $ZK surged 15% daily post-announcement, boosted by Buterin's endorsement of Atlas upgrade and 15,000 TPS throughput. - Challenges persist: unclear fee structures, 54% annual price
Bitcoin News Update: Bitcoin's Decline Reflects the Macroeconomic Influence of Conventional Financial Systems
- Bitcoin fell below $100,000, intensifying bearish sentiment amid macroeconomic uncertainty and trade tensions. - Key support at $88,000 and resistance at $113,000 could determine further declines or recovery, per analysts. - U.S.-China trade conflicts and Fed policy shifts have amplified Bitcoin's sensitivity to global market trends. - Institutional outflows and dollar strength weigh on prices, though a potential "Santa Rally" remains speculative. - Market stability hinges on holding above $100,000 as ma
Trending news
MoreCrypto prices
More
