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XRP Price Drops to 11-Day Low Amid Market Turbulence and Political Uncertainty
XRP Price Drops – XRP faced significant downward pressure today, declining from yesterday’s stable position around $3.15 to hit an 11-day low of $2.97 on Bitstamp exchange. The cryptocurrency briefly broke below the crucial $3.00 support level before recovering slightly above this psychological barrier.
Market Decline Follows Trump’s Ukraine Comments
The sharp decline appears to be connected to recent statements from Trump regarding the ongoing conflict between Ukraine and Russia. The former president’s comments triggered a broader market selloff, with Ripple’s token joining other cryptocurrencies in what traders are describing as a “painful move south.”
The digital asset had been trading sideways at comfortable levels before this morning’s volatility struck, catching many investors off guard with the speed and severity of the price movement.
Critical Resistance Level Analysis
According to Ali Martinez, a prominent crypto analyst boasting over 150,000 followers on X, XRP has now moved further away from a critical resistance threshold. Martinez identifies $3.30 as a pivotal level that could determine the asset’s future price trajectory.
The analyst warns that failure to reclaim this $3.30 resistance could potentially trigger further declines, with price targets dropping to $2.6 or even as low as $2.00.
Key Support Levels Under Watch
Martinez previously highlighted $2.81 as a crucial support level for XRP, emphasizing that the token must maintain this threshold to preserve its bull market structure. Currently, Ripple’s cryptocurrency finds itself positioned between these critical technical levels.
Political Developments May Drive Further Volatility
Market participants are bracing for additional volatility as European political leaders, including representatives from Ukraine, are scheduled to meet with Trump today. These discussions will focus on potential pathways to end the Russia-Ukraine conflict, which could significantly impact cryptocurrency markets and risk sentiment globally.
The outcome of these high-stakes political meetings may determine whether XRP can reclaim its recent highs or face further downward pressure in the coming sessions.
