XRP (XRP) Drops Nearly 40% to $2.19 Amid Market Sell-Off

XRP (XRP) has experienced a significant drop of almost 40% to approximately $2.19, following a recent high of $3.40 two months ago. This decline is part of a larger market sell-off influenced by President Donald Trump's trade war, despite positive news such as the SEC dropping its case against Ripple. XRP is still showing a 350% increase from its low in November 2024, indicating a period of consolidation after a strong rally. There is speculation about whether this marks the end of the bullish trend or presents a good buying opportunity. The price of XRP has been fluctuating between $1.77 (support) and $3.21 (resistance) since January, with resistance near the upper limit and diminishing bullish momentum. Analysts predict a potential long entry if the price revisits the support level of $1.77. The green support area on the chart, extending down to $1.50, suggests a zone of high demand where buyers may intervene. A short-term market rebound, driven mainly by Bitcoin (BTC), could lead to a temporary recovery, but a clear breakout above $3.21 is needed to confirm a bullish trend reversal. XRP is currently in a sideways structure, with analysts monitoring reactions at the $1.77 support level before considering a long position. Analysts are observing a potential bull flag formation within the consolidation zone of $1.77 to $3.21, with a breakout above $3.21 possibly leading to a 450% price rally. XRP is currently consolidating within a long-term bullish pattern, resembling a previous rally from March 2020 to April 2021. As long as XRP remains above the 50-week moving average (1W MA50), the broader bullish cycle is expected to continue, potentially targeting $6.50 in the coming months. This article does not provide investment advice, and readers are encouraged to conduct their own research before making any financial decisions.