The post A Make or Break Situation As Ripple Crypto Flirts Around $2 appeared on BitcoinEthereumNews.com.

XRP price has come under strong selling pressure with more than 13% drop on the weekly chart, and is currently facing a make-or-break situation, flirting around $2 level. Following yesterday’s low at $2.03, the Ripple crypto has seen a brief bounce back above $2.11, however, it remains to be seen whether this bullish sentiment can sustain moving ahead from here onwards. XRP Price Faces Crucial Test as MVRV Indicator Tanks The Market Value to Realized Value (MVRV) ratio for XRP has dropped below its 200-day moving average, a key indicator that could suggest a macro trend shift in price action, reported crypto analyst Ali Martinez. Source: Ali Martinez This crossover is often seen as a bearish signal, indicating that XRP price may be entering a new phase of market movement. Analysts are closely observing whether this dip is the start of a broader downtrend or signals a potential accumulation phase for investors. However, market analysts are hopeful of the 125% in XRP options trading volumes, with some expecting a potential bounce back to $2.5. Ripple Crypto In A Make-or-Break Situation As of press time, the XRP price is showing signs of recovery from yesterday’s bottom at $2.03 with daily trading volumes pumping 35% to more than $4.0 billion. However, per the Coinglass data, the XRP futures open interest is showing mild movement at 0.7%, showing no clear directional signs. XRP has rebounded from the $2.03 support level and is moving upward, however, a sustained breakout above the trendline resistance of $2.30 is crucial to target $2.91. Source: Trading View If XRP fails to hold above $2.03, major support levels are positioned at $1.79 and $1.56, which could determine the next directional move. Traders are closely watching price action for confirmation of a bullish breakout or potential downside risk. If the…

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Filed under: News - @ April 1, 2025 6:17 am