XRP price risks repeating 2022 crash as new buyers go underwater

💡 DMK Insight

XRP’s current price of $1.61 is a critical juncture for traders: it’s below the average buy price from the past year, which raises concerns about potential further declines. This situation puts many holders at a loss, creating a psychological pressure that could lead to increased selling activity. If XRP fails to reclaim key support levels, we might see a cascade effect, pushing the price even lower. Traders should keep an eye on the $1.50 level as a potential support; a break below this could trigger stop-loss orders and exacerbate the downward momentum. On the flip side, if XRP can rally back above the $1.70 mark, it may attract buyers looking for a rebound, but that seems a tough climb given the current sentiment. Watch for volume spikes around these levels; they could indicate whether the market is gearing up for a reversal or if sellers are still in control. The next few days will be crucial for determining XRP’s short-term trajectory.