XRP price fell by over 5%, struggling to stay above the $0.51 mark and violating key support levels.
Analysts have varying opinions on XRP’s future, with some suggesting a need to stay above $0.40 to prevent a substantial plunge to $0.25.
XRP’s fate depends on whether bulls can regain lost ground and maintain support around $0.51.
XRP slipped over 5% in the last few hours, violating multiple price floors as bears seized short-term control. The token also fought to hold above the psychologically important $0.51 mark. The breakdown revives downside risks, depending on whether or not crucial support bottles up selling pressure.
After spiking briefly on the heels of Bitcoin’s rally, XRP met stubborn resistance around $0.54, sparking a sideways drift followed by a breach below its 0.236 Fib line. The technical crack opens the path to retesting 2022 swing lows around $0.33 without a swift trend reversal.
Analyst opinions diverge on appropriate strategies given the precarious position,
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