XRP, the fourth largest cryptocurrency, has bounced back above $2 after experiencing a drop alongside a broader sell-off in risk assets. Recent macroeconomic concerns have led to a decline in the cryptocurrency market, with Bitcoin falling 8% to $78,167. XRP reached a low of $1.95 but has since recovered and was trading at $2.15 at the time of writing. The cryptocurrency has slowly decreased since reaching highs of $3.39 on January 16. XRP is currently trading below its 50-day moving average of $2.71, which has supported its price. However, if the current rebound is sustained, buyers may attempt to push the price above $2.71. The XRP community remains optimistic about the Ripple lawsuit, and positive developments in the case have historically boosted the XRP price. However, if selling pressure returns, XRP may test support at $1.95 and $1.79.



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