2 Important Warnings About the Price of XRP: Details

XRP surged to $2.45 on Sunday, then faced a sharp rejection and fell to a critical support level that could lead to further losses if lost. At the same time, a large whale with significant PnL has reduced their buying position in XRP. Return to $2? At this time last week, the price of XRP surged to a multi-month peak of nearly $2.70. Although the price initially stalled there, buyers began another rally on Wednesday, leading to a touch of $2.65. However, the breakthrough attempts were not very successful, and subsequent rejections pushed XRP down to $2.30 on Friday. The asset has recovered some ground over the weekend and even challenged the resistance level of $2.5 during a brief rally on Sunday across the market, where it paused once again. As of now, Ripple's token has returned to the level of $2.3, which is an important support level, according to Ali Martinez, and has been tested a few times over the past few weeks. However, if the asset price falls below this level, the well-known analyst predicts the price will continue to fall to $2, which is also an important support level that has protected XRP many times since the beginning of the year.

Whale Watch Perps, an X account that tracks the positions of large whales, reports that one of these major market participants with an impressive PnL record has reduced their long position in XRP, which can also be seen as a bearish sign.

Good News After the price drop to $2.3 previously, Martinez noted that XRP has signaled a buy according to the hourly chart, according to TD Sequential, which could mean that the price may reverse in the near future. Additionally, Xoom stated on X that market interest in XRP has been "reset," due to the increase in Google searches for this asset over the past week after a long period of decline. According to X users, price breakthroughs occur precisely at such times.