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XRP drops 4.5% as heavy selling breaks another support level
Key takeaways
- The latest drop pushed the token back toward the same $1.10 area that several analysts had flagged as a key line in the sand, with selling pressure accelerating once $1.13 gave way.
- • Several analysts pointed to the $1.09 area as a major Fibonacci support level that XRP had been approaching for months.
- • XRP remains trapped below its 100-day and 200-day moving averages, underscoring the broader bearish trend despite periodic relief rallies.
The latest drop pushed the token back toward the same $1.10 area that several analysts had flagged as a key line in the sand, with selling pressure accelerating once $1.13 gave way.
• Several analysts pointed to the $1.09 area as a major Fibonacci support level that XRP had been approaching for months.
• XRP remains trapped below its 100-day and 200-day moving averages, underscoring the broader bearish trend despite periodic relief rallies.
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