Price Drop Overview
XRP has experienced a significant drop, falling by 4.3% in the last 24 hours and slipping below the crucial $2 support level. This decline has raised concerns about whether the bear market is officially starting.
Market Reaction
The market has reacted strongly to this drop. Long liquidations have surged to $584 million, indicating that many traders were caught off guard by the sudden decline. Trading volumes have also doubled, reaching $3.9 billion, which suggests strong selling pressure.
ETF Inflows
Despite the price drop, XRP‑linked exchange‑traded funds (ETFs) have seen positive net inflows for 21 consecutive days. This indicates strong interest from institutional buyers and long‑term holders in regulated markets.
Technical Analysis
Looking at the charts, a break below the $2 level with strong volumes occurred yesterday, leading to a further drop toward the next support level at $1.86. If this level is not held, it could result in another 10% decline to the October 10 lows of $1.58. However, the Relative Strength Index (RSI) has hit extreme oversold levels, which has previously led to slight recoveries.
Alternative Opportunities
As established tokens like XRP struggle to recover, investors may find better opportunities in top crypto presales, such as Maxi Doge ($MAXI). This meme coin has raised over $4 million and is inspired by the viral Doge meme. Holders gain exclusive access to an idea hub and can participate in fun competitions.
Conclusion
While XRP faces significant market pressure, there are still opportunities in the crypto market. Investors should keep an eye on market trends and consider alternative investments.
