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XRP Bears Take Control as Price Drops Below $2 on Rising Israel-Iran Conflict
- XRP's price drops below $2, signaling bearish momentum.
- Market trend is downward with XRP falling below major moving averages and support zones.
- Geopolitical tensions between Israel and Iran contribute to the crypto sell-off affecting XRP as well.
- Key support levels for XRP are identified at $1.80 and $1.60 with no clear reversal signals yet.
- Recent market downturn impacts major cryptocurrencies like Bitcoin and Ethereum.
- XRP breaks through vital support levels affirming a bearish market sentiment.
- Crossing below key moving averages indicates downtrends across short, medium, and long-term periods.
- Technical analysis points to a potential short-term bounce due to oversold RSI, but no bullish reversal patterns are identified.
- Selling pressure in XRP market supported by strong participation reflected in volume analysis.
- Next support levels for XRP anticipated at $1.80 and $1.60 based on previous price movements.
- Caution advised for traders with bearish pressure expected on XRP in the short and long term.
- XRP's price decline occurs amidst a competitive ETF race with approval chances reportedly at 95%.
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