XRP Price Declines to $1.85 After Breaking Key Support Level
- XRP fell from $1.89 to $1.85, breaking the $1.87 support zone.
- Daily exchange inflows ranged between approximately 35 million and 116 million XRP since mid-December.
- Selling volume peaked at about 68 million XRP, roughly 77% above the average for the last day.
- Price briefly stabilized near $1.846 but failed to regain the critical level of $1.85.
- If XRP cannot hold above $1.85, potential downside targets include $1.84 and the demand zone of $1.77–$1.80.
Recent on-chain data indicates increased XRP deposits to exchanges, suggesting holders may be looking to sell rather than accumulate despite ongoing institutional interest through ETFs. The current market environment remains cautious as larger cryptocurrencies like Bitcoin struggle for upward momentum.
With XRP now at $1.85 and a significant selling pressure observed, traders should monitor key levels closely as further declines could occur if support fails.(Source)
