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XRP Crashes 56% in Volumes as Market Sell-Off Continues
The market sell-off continues to impact the cryptocurrency market, and XRP is no exception. The altcoin has crashed 1.67% in the last 24 hours to $2.09 and is down 4.09% weekly.
According to recent data, XRP’s high prices have reached highs of $2.17, however, it seems unlikely that this level will be sustained given the current market conditions. The RSI at 42 might increase the risk of a break below $2, potentially forming a bearish head-and-shoulders pattern.
XRP eyes support at $1.84, which coincides with the daily SMA 200. However, if this level is broken, it’s likely that the slide could continue to $1.77 and then $1.27.
Buyers face a significant challenge in order to avoid a breakdown. They must quickly drive the price above the 50-day simple moving average at $2.34 in order to pave the way for a relief rally to $2.6 and beyond.
Source: https://u.today/xrp-crashes-56-in-volumes-as-market-sell-off-continues
