š Market Snapshot (Today)
$XRP price fell below the key $2 psychological level, trading down around $1.97 ā with lows near $1.84 in intraday action as traders liquidated long positions while broader crypto markets dropped.
This breakdown triggered the largest wave of XRP long liquidations in over two months ā about $29.7 M wiped out from leveraged long bets, as forced selling pushed price lower.
Breaking below the $2 āsupport wallā has turned that level into near-term resistance, making sustained recovery harder unless buyers step in strongly.
š Why This Is Happening
Liquidation cascade: Once XRP slipped under $2, many leveraged tradersā long positions were automatically closed (āliquidatedā), accelerating the downward move and adding selling pressure.
Market context: The wider crypto market has also been weak ā Bitcoin and other major tokens are down, which pulls alts like XRP lower in sync.
Technicals: Indicators (like moving averages and momentum metrics) are signaling bearish bias unless XRP climbs back above declining resistance levels near ~$2.05ā$2.10.
š Key Levels to Watch
Support: ~$1.90ā$1.84 zone ā recent intraday lows where buyers re-entered.
Resistance: ~$2.05ā$2.10 ā above this, selling pressure could ease.
š§ What This Means for Traders
Short-term sentiment is bearish until XRP can reclaim $2.05+ on strong volume.
The forced liquidations highlight volatility and the risk of leveraged trading ā especially when key psychological supports break.
Broader macro and crypto market weakness is a headwind, so recovery may depend on broader sentiment turning positive first.
$XRP #Xrpš„š„ #XRPRealityCheck #writeToEarn #Binanceexchange.
