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XRP Price Prediction – XRP might drop below $2 after recent Flash Crash
- The XRP price is hovering around $2.4 which some see as a sign of stability, but others fear a larger correction may be on the way.
- XRP’s inability to push above $2.4 suggests that the bullish momentum is fading, and profit-taking by whales after a massive rally is a hint that a possible downtrend is on the horizon.
- Many analysts predict that if Bitcoin drops below $100K, XRP may also follow suit.
- The recent flash crash below $2 was short-lived and buyers quickly stepped in, pushing the price back above $2 and up to its current level of $2.4.
- Flash crashes often indicate that a larger downtrend is on the horizon, as they reveal weaknesses in the market's buying power.
- After falling below its 21-day Simple Moving Average, XRP is flashing a bearish signal and the SMA 21 indicates that selling pressure is increasing.
- The next move for XRP will largely depend on the performance of Bitcoin. If Bitcoin fails to break strong resistance at $104K and drops below $100K, analysts believe that XRP will also face increased selling pressure.
- Given the recent market signals, analysts are predicting that the XRP price could face further downside and may drop to $1.8, which is the next major support level below $2.
- Investor sentiment, technical indicators and Bitcoin movements are key drivers that will impact XRP's next moves.
- If XRP can reclaim the SMA 21 and Bitcoin breaks $104K, XRP may regain momentum and push higher towards the previous ATH of $2.8.
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