The XRP cryptocurrency experienced a significant drop, falling below the $2 mark and causing concern among the crypto community. The price fell from $2.41 to $1.97 in less than 24 hours, resulting in an 18% drop for the day. The market cap also decreased from $137.8 billion to $113.8 billion, resulting in a $24 billion loss in value within a day. Despite the decline, XRP is still trading above its 200-day moving average, indicating a positive trend. Traders are hoping for a recovery above the $2 psychological level, with support lying at $1.92 and resistance at $2.55. Despite the crash, there is cautious optimism about a potential bounce back above $2, which could restore confidence and lead to upward momentum. Analysts are closely monitoring the situation, with the possibility of short positions facing liquidation if XRP rebounds to $2.62.



Other News from Today