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Popular cryptocurrency XRP is on the verge, and this time it's for real. The thing is, after days, if not weeks, of flirting with $2, the price of the third largest cryptocurrency finally seems to be breaking below that coveted mark.
Yes, XRP is trading at $2.084, but it has been in a downtrend for a month now, printing back-to-back lower highs on its daily chart. Looking at the price chart now, it seems inevitable that XRP will at least touch or even break the $2 threshold.
The reasons? The 200-day moving average — a crucial price curve that is currently stretched at $1.84 and is acting like a magnet for the price right now. If you try to think of price action as moving from one pool of liquidity to another, hitting this moving average would be a perfect opportunity to set stops and test the ambitions of buyers of XRP in this exact zone.
And let's be realists, it is not something that has not happened before, as earlier this year, back in February, the price of the altcoin plunged over 30% in one daily candle, going all the way down from $2.79 to $1.768. That was brutal and in no way compares to the brewing dip toward the 200-day moving average.
Another question, though, is that after that February crash, the price eventually recovered to the high $2s. Whether that will happen this time is a big if.
On the positive side, the price of XRP has tested $2 seven times since December 2024, and every single one has held above, so buyer interest will definitely be there. However, will it be enough to absorb the potential sales is another question.