Global economic uncertainties are impacting cryptocurrency markets. XRP is experiencing selling pressure after failing to stay above $2.40. CME Group's planned launch of XRP futures did not boost the price.
The digital asset has formed a bearish pattern on short-term charts. High-volume selling emerged when testing key resistance levels. Analysts like Ali Martinez warn that losing the $2.30 support could trigger a decline toward $2.00.
An upcoming one billion XRP token unlock adds to the market uncertainty.
This article is based on our author's analysis of materials taken from the following resources.