Summary
- XRP has breached the key support at $1.93 and is showing a weak trend.
- CoinDesk judged that recovery of $1.93 and a drop in trading volume are conditions for a rebound.
- It analyzed that currently price volatility is driven by liquidity and capital flows rather than a long-term accumulation signal.
As the broader cryptoasset (cryptocurrency) market shifts into a risk-off phase, XRP (XRP) has broken a key support level and is showing relatively weak momentum.
On the 16th (local time), according to CoinDesk, XRP fell from around $2.00 to an intraday low of $1.87, and after testing $1.93 it left that support without a clear buying response. It then traded sideways between $1.86 and $1.88 for a short period, but with volume persisting, position adjustments continued.
The outlet views the $1.93 level as a key zone where support has turned into resistance. If trading continues below $1.88 in the short term, downward pressure is likely to persist, and the next defensive zone is identified near $1.85.
CoinDesk said, "To see a meaningful rebound, recovery of $1.93 alongside a reduction in trading volume must occur first," and diagnosed that "for now, price volatility driven by liquidity and capital flows will determine XRP's direction rather than a long-term accumulation signal."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
