{"content":"$XRP Drops 2.71% Amid Weakening Market Sentiment and Broken Support Levels XRP slipped by 2.71% over the past 24 hours, currently trading at $2.20 after breaching key support levels. The price decline comes alongside the formation of a descending channel, signaling continued bearish pressure. A notable volume spike of 1.2 million units highlights a rush to exit positions as investor sentiment turns cautious. XRP’s market cap also saw a sharp $6 billion drop, contributing to a 9.11% loss over the past week amid broader market volatility. --- Behind the Headlines Ripple continues to push for traditional finance integration, with recent developments such as the RLUSD stablecoin project and the acquisition of Hidden Road. The company is also expanding its global reach, partnering with UAE regulators on tokenized real estate initiatives. Meanwhile, China-based Webus has filed with the SEC to raise $300 million to establish a strategic XRP reserve, signaling institutional interest despite market pressures. --- Price Action and Technical Outlook XRP fell from $2.269 to $2.190 within 24 hours, confirming a bearish trend. A descending channel pattern has formed, indicating sustained downward momentum. Strong resistance is seen at $2.265–$2.270, where multiple rejections have occurred. Support is weakening around $2.202–$2.205, with a recent breakdown happening on high volume. A potential double bottom may be forming, as price rebounded slightly to $2.208 amid rising volume. Open interest has exceeded $4 billion, pointing to increased liquidity and the possibility of a short squeeze, though sellers currently dominate the market.","images":["https://d2kdcqywr8ua22.cloudfront.net/uploadfile/article/blog/2025062025/06/13/d7db2b88e827414fb866454e0459e1da.png"],"tags":[],"tradingPairs":["XRP/USDT"],"quotearticleid":0}