%Cryptocurrency XRP (CRYPTO: $XRP) has fallen 6% in the past 24 hours and dropped below its 200-day moving average as global economic uncertainties lead to a selloff in digital assets.
XRP is currently trading at $2.19 U.S. per token. Crypto analysts have warned of a possible 16% decline in the price if XRP fails to maintain support at the critical level of $2.30 U.S.
At one point, XRP’s price was as low as $2.16 U.S. amid growing worries about U.S. President Donald Trump’s tariff policies and concerns about the American economy.
Most analysts consider it a bad sign when an asset drops below its 200-day moving average.
The entire crypto market, which also includes %Bitcoin (CRYPTO: $BTC) and %Ethereum (CRYPTO: $ETH), lost 3.1% in the last day and now has a total market value worldwide of $3.35 trillion U.S.
XRP saw volumes spike to 174.7 million units — nearly quadruple the average 24-hour trading amount as investors quickly pullback their crypto bets.
Analysts are watching XRP closely to determine if it can stabilize or faces further downside risks.
Chart patterns show that XRP is encountering resistance right around $2.20 U.S., with prices consolidating near $2.19 U.S.
XRP is the cryptocurrency of the XRP Ledger, a platform that was launched in 2012 by Ripple Labs. XRP supports tokens, crypto, and other units of value such as frequent flyer miles and mobile phone minutes.
