CandleFocus XRP 10% Price Drop Happened With Only 1 Sell Order
2024-11-17
Author: Content Editor
XRP experienced a sudden 10% price drop in just two seconds due to a large sell order on the spot market, raising concerns about its market dynamics and liquidity. The coin had a strong rally before the drop but remains in overbought territory according to the RSI. XRP is still trading above its major moving averages, indicating the uptrend is intact. Resistance is expected at $1.30-$1.35, while support is seen at $0.95-$1.00. This incident highlights the risks and opportunities of trading in volatile markets like XRP. Investors should monitor liquidity dynamics and upcoming catalysts for price direction.
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