XRP Plunges Below $2, Liquidating $65 Million Amid Market Downturn

XRP experienced a significant downturn, falling below $2 earlier today, invalidating a bullish setup. The price drop, influenced by broader market concerns, led to $65 million in liquidations for XRP traders out of the $1.39 billion liquidated across the crypto market in the past 24 hours, according to Coinglass. Santiment data indicates a surge in XRP's trading volume to nearly $10 billion, coinciding with the price decline, suggesting increased selling pressure. For the first time since November 2024, XRP's price has slid under the 200-day Exponential Moving Average (EMA). The Relative Strength Index (RSI) also supports this trend. If the current trend continues, XRP's price might fall below $1.52 and decline to $1.09.