XRP experienced a 6% drop in the last 24 hours due to global economic tensions, leading to significant liquidations. The price fell from $2.20 to $2.14 as the crypto market shed 3.81%, settling at a $3.3 trillion market cap.
The U.S. Court of International Trade's decision to overturn Trump's trade tariffs reignited trade policy concerns, impacting risk assets like XRP. Over $29.68 million in long positions were liquidated as traders adjusted their exposure.
XRP faced resistance at $2.21 and found support near $2.11, preventing further downside during the 03:00 hour. Recent consolidation between $2.13 and $2.14 suggests potential stabilization, though sellers remain in control.
In the final trading hour, XRP formed a higher-low pattern around $2.135, signaling potential short-term support. However, the token also faced resistance at $2.144-$2.145, forming a tight range for traders to watch.
Traders are closely monitoring XRP for signs of sustained support or further breakdown amid macroeconomic tensions and technical headwinds.
This article is based on our author's analysis of materials taken from the following resources: Price-Action News Background.