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The selling pressure in the cryptocurrency market is intensifying, with Bitcoin 
$104,810 experiencing notable declines leading to significant outflows from ETFs. As Ethereum 
$2,463 and Solana 
$164 continue their downward trajectory, XRP has fallen below a crucial support level. Currently, the overall outlook for the cryptocurrency market appears quite negative.
XRP Drops Below Key Support Level
XRP has dipped below its important support zone of $2.25 – $2.30. While there have been recoveries from this level in the past, the current movement raises concerns about whether the price will remain below this support threshold. If daily candle closures occur below this level, a more significant decline for Ripple 
$2‘s altcoin may be on the horizon.
Lower support levels of $1.95 – $2.05 are also noteworthy. Recent price movements indicate that the $2.05 level may serve as a temporary support. Conversely, the $2.65 – $2.80 range has emerged as significant resistance levels for XRP.
XRP Coin Commentary
Technical analysis data suggests that XRP is continuing its downward trend. The price is forming lower highs and lower lows, presenting a negative outlook. Additionally, a distinct bearish trend is evident in the price chart, indicating that selling pressure may persist.
Overall market conditions do not provide a favorable environment for XRP. The declines in Bitcoin and major altcoins are negatively impacting XRP as well. Consequently, it is expected that the market’s general trajectory will play a decisive role in the future price movements of this altcoin.
Currently, XRP is trading at $2.22, reflecting a 2.72% drop in the last 24 hours. Data indicates that the price has fallen by 17.28% over the past week.
