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- XRP tests $2 support after breaking a three-year downtrend, facing a critical price moment.
- Analysts are divided on whether XRP rebounds or drops to $1.20 after recent volatility.
- Institutional investors show confidence, with XRP inflows surpassing Bitcoin and Ethereum despite market uncertainty.
Ripple’s XRP has finally broken free from a three-year downtrend. But the latest market drop has shaken investor confidence. The price now sits at a crucial support level of $2, making traders nervous. A move below this level could spark a sharp decline, while a strong rebound might trigger a rally. Analysts remain divided on the next move. Will XRP bounce back, or is more pain ahead?
XRP Price Hangs in the Balance
The recent crypto crash hit major digital assets hard, including XRP. The price briefly dipped to $1.95 before bouncing above $2. Trading volume surged 30%, reaching $9.55 billion. Meanwhile, liquidations spiked to $36.17 million, with long positions taking the biggest hit. Some market experts see signs of recovery, as the post below highlights.
Crypto analyst Bitcoin Buddha believes XRP could be on the verge of a reversal. According to the analyst, selling now might be a mistake since the cryptocurrency recently broke a long downtrend. Others, like Ali Martinez, remain cautious. A daily close under $2 could confirm a head-and-shoulders breakdown, signaling a shift toward a bearish trend. If this pattern plays out, XRP could plunge to $1.20.Institutional
Investors Show Confidence
Despite volatility, large investors continue to back XRP. The latest CoinShares report shows strong inflows into the asset, outpacing both Bitcoin and Ethereum. Over the past week, XRP attracted $5.6 million from institutions, while Bitcoin recorded massive outflows of $756 million.
Ethereum followed with $89.2 million leaving the market. The rising institutional interest suggests optimism for the long-term outlook. Many investors expect a favorable outcome in the ongoing SEC case against Ripple. A positive resolution could send XRP soaring to new highs.
For now, the market watches closely. Holding above $2 could spark bullish momentum. A break below might trigger panic selling. The next few days will shape XRP’s future, making this a decisive moment for traders and investors.
