Economic economic tensions are heavy in cryptocurrency markets because XRP is experiencing a significant correction amidst heavy sales pressure.
The recent announcement of potential 50% tariffs on the European Union imports of the US government has triggered extensive uncertainty in the market, which has fallen XRP next to most major cryptocurrencies despite Bitcoin recently reached new hours.
Technical analysts point to critical support of the $ 2.25- $ 2.26 range, warned by market observers that a break below this level can trigger a deeper correction towards the $ 1.55- $ 1.90 zone.
Meanwhile, the institutional interest remains strong with the sharing of volatility of launching an XRP futures ETF and leveraged ETF inflows surging despite the dinking of the price, suggesting Wall Street continues to accumulate positions during the market weakness.
Technical assessments
- XRP has undergone a well -known 3.46% correction over a 24 -hour period, with a price drop from $ 2.361 to $ 2.303, creating a overall range of $ 0.084 (3.57%).
- The most significant price action occurred at midnight (00:00), when the XRP dropped to $ 2.297 in super high volume (37.1m), established a strong volume-based support.
- A second sale-off at 08pm saw the price handle a period of less than $ 2.280 with the highest spike volume (39.9m), proving a double formation.
- Last time, the XRP experienced significant volatility in a recovery attempt following the preceding correction.
- After reaching a low $ 2.297 at 13:11, the price formed a base around $ 2.298 before presenting a large rally starting at 13:27, looking at $ 2.307 at 13: 36-13: 39 with an excessive high volume (627K-480k).
- This bullish momentum created a clear resistance zone at $ 2.307, which has been tested several times.
- The final 15 minutes saw the income pressure emergence, with the price retreating to $ 2.300, which established a short -term support that aligned with the psychological $ 2.30 threshold.
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