XRP don drop below $3, e dey look $2.81 support as $465M dey get sell-off
XRP drop comot for $3 on Monday, e reach $2.96 for first time since August 6. Di drop happen as crypto market dey sell well well. Dis make XRP be di second weak token for top ten, after Solana. For last 24 hours, about $464.7 million crypto positions don liquidate. Long positions be $380 million. Di liquidations make selling pressure strong and e reduce leverage bets. For technical side, di $2.81 support level na important for XRP now. About 1.7 billion tokens dey for dis level from before. If e break below $2.81 steady, e fit make bearish feeling worse. Di fallback carry Bitcoin near $115,000 and dis make more money comot from altcoins. Traders dey watch if buying go come back pass di main support. XRP performance today show say leveraged market still fragile and risk management dey important.
Bearish
The news dey bearish for XRP and the bigger altcoin market. Heavy selling pressure and $465 million liquidation show say leveraged long positions dey unwind quickly. If e break below di key $2.81 support, e fit trigger more downside risk, wey go make plenty stop-loss orders and margin calls happen. For history, similar decline for May 2023 cause short-term capitulation before recovery. Traders fit still dey cautious short term, as longer-term sentiment dey depend on Bitcoin stability and renewed buying interest around critical support levels.